Question

A sum of money lent out at simple interest amounts to rs.720 after 2 years and to rs. 1020 after a further period of 5 years. Find the sum and the rate percent.

Answer 1

Answer:

Step-by-step explanation:

600 Rs.

Principal + SI for 2 years = 720 Rs. ……(I)

Principal + SI for 7 years = 1020 Rs. ……(II)

Subtracting equation (I) from (II),

S.I. for 5 years = (1020 – 720) = 300 Rs.

∴ S.I. for 2 years = 300*2/5 = 120 Rs.

∴ Principal = (720 – 120) = 600 Rs

Answer 2

Sum is 600 percent
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