Question

A sum of money lent out at simple interest amounts to ₹2880 in 2 years and ₹3600 in 5 years. find the sum of money and the rate of simple interest​

Answer 1

Step-by-step explanation:

(14_23)3×1_23×(14_23)-2

Answer 2

Answer:

31.25%

Step-by-step explanation:

Now ₹2880 is the amount after 2 years

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%

Hope it helps you :)