Question

A sum of money lent out at simple interest amount to rs 2880 in 2 years and to rs 3600 in 5 years.find the sum of money and the rate of interest?

Answer 1

Hey Mate!!!

Here's your answer.

Amount in 2 years = ₹2880

P + I of 2 years = ₹2880.

Amount in 5 years = ₹3600

P + I of 5 years = ₹3600.

Interest of 3 years (5-2) = ₹3600 - ₹2800 = ₹800.

Interest of 1 year = ₹800÷2 = ₹400.

Interest of 4 years (3+1) = ₹400×4 = ₹1600.

P+ ₹1600 = ₹2880, P = ₹1280.

Taking P = ₹1280, I = ₹400, T = 1 year.

R (rate) = I × 100 ÷ P × T

= 400 × 100 ÷ 1280 × 1 = 31.25%

The sum = ₹1280 and Rate(R) = 31.25%.

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Answer 2

Explanation:

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