Question

a sum of money lent at simple intrest amounts to Rs 3224 in 2 years and Rs 4160 in 5years . find the sum and the rate of intrest

Answer 1

Solution

Amount in 5 years = (principal SI for 5 years) = Rs 4160.

Amount in 2 years = (principal SI for 2 years) = 3224.

On subtracting we get :

SI for 3 years = Rs (4160 - 3224) = Rs 936.

Or SI for 2 years = Rs (936 x 2 / 3 ) = Rs 624.

Or sum = (amount for 2 years) - (SI for 2 years) = Rs (3224 - 624) = Rs 2600.

Now, principal = 2600, SI = Rs 624, time = 2 years.

Therefore, rate = (100 x SI)/(P x T) = (100 x 624) / (2600 x 2)% = 12% p.a.

Answer 2

Step-by-step explanation:

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