Question

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

Answer 1

The sum of lent amount = 675
and the rate % per annum = 8%

Answer 2

Answer:

The sum is Rs.675 and rate of interest is 8%

Step-by-step explanation:

Let the principal be x

Amount = Principal + Simple interest

Amount =$Principal+\frac{P \times R \times T}{100}$

We are given that a sum of money lent at simple interest amounts to rs. 783 in 2 years

So, $783=x+\frac{x \times R \times 2}{100}$

We are also given that a sum of money lent at simple interest amounts to rs. 837 in 3 years.

So, $837=x+\frac{x \times R \times 3}{100}$

Solving A and B

x= 675 , R = 8

Hence The sum is Rs.675 and rate of interest is 8%