Question

A sum of money lent out at simple interest amounts to rs 2200 in 1 years and rs 2800 in 4 years find the sum of money and the rate of interest

Answer 1

Answer:

Principle = Rs.2,000 ; Rate of Interest = 10%

Step-by-step explanation:

Amount after 1 Yr = 2,200

Amount after 4 yrs = 2,800

Hence the simple Interest for 3 yrs = 2,800 - 2,200 = 600

Interest for 1 yr = 600/3 = 200

Hence the Principle = 2,200 - 200 = 2,000

As I = PTR/100

R = 100*I/P*T = (100 * 200) / (2000 * 1) = 10

Answer 2

Step-by-step explanation:

THE ANSWER TO THE QUESTION IS 20%