Question

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

Answer 1

Answer:

Step-by-step explanation:

Suppose rate of interest=x;

Principal amount is A;

Total amount=Principal+Interest;

2200=A+$\frac{Ax}{100}$;

2800=A+$\frac{4Ax}{100}$;

By solving both the eq. we get;

(100+x)14=(100+4x)11;

1400+14x=1100+44x;

1400-1100=44x-14x=30x;

300=30x;

x=10%