Question

a sum of money lent at simple interest amounts to 783$ in 2 years and to 837$ in 3 years. Find the sum and the rate percent per annum

Answer 1

Answer:

p=$675 r=8%

Step-by-step explanation:

let principal be $p and rate be r% and amount be A

SI = p*r*t/100 = A-p

783-p=p*r*2/100

p*r=100/2 * (783-p)

p*r=39150-50p              -1

also,

837-p=p*r*3/100

p*r=100/3 * (837-p)

p*r=27900-(100/3)p       -2

As 1 = 2,

So 39150-50p=27900-(100/3)p

    (50/3)p=11250

     p=$675

     putting p in 1 or 2

     r=8%

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