Question

a sum of money lent out at simple interest amount to ₹6200 in 1 years and to ₹6800 in 3 year .Find the sum and the rate of interest​

Answer 1

ANSWER....

Solution:-

Amount(A)= Rs. 6200

Time(T)=1 year

By the question,

In 3 years, the added amount= Rs. 6800-Rs.6200=Rs.600

Therefore, the interest in 2years is Rs.600. Now, In 1 year=Rs.600/2=Rs.300

Interest per annum= Rs.300

P= A-I(where P= principal, A= amount and I= interest)

P=Rs.6200-Rs.300=Rs.5900

Therefore, the sum is Rs.5900.

R=I*100/PT=Rs.300*100/5900*1

=5.08 per annum

:) hope the answer is correct