Question

A sum of money lent out at simple interest amounts to 2200 in one year and 2800 in 4 years .find sum of money and the rate of interest.

Answer 1

Answer:  5/7

Step-by-step explanation:

Amount in 1 year =2200

Amount in4 years =2800

Simple intrest for 3 years =(2800-2200)=600

Since,  

Rate= (100×simple intrest) /(principal ×time)

So,  

R= (100×600)/(2800×3)=5/7