Question

A sum of money lent out at simple interest
amounts 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

Answer:

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Answer 2

Amount after 2 years =Rs.783

Amount after 3 years =Rs.837

Therefore,

S.I. of 1 year =837−783=Rs.54

⇒ S.I. of 2 years =54×2=Rs.108

Principal sum =783−108=Rs.675

Therefore,

S.I.=

100

PRt

⇒54=

100

675×R×1

⇒R=

675

54×100

=8%

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