Question

a sum ofmoney lent out at simple intrest amount to rs 2200 in one year and rs 2800 in 4 years .find the sum of money and the rate of intrest .

Answer 1

Find the amount of interest for 3 years:

Interest for 3 years = 2800 - 2200 = Rs 600

Find the interest for a year:

3 years = Rs 600

1 year = 600 ÷ 3 = Rs200

Find the principle amount:

principle = 2200 - 200 = Rs 2000

Find the interest rate:

Interest rate = 200/2000 x 100 = 10%

Answer: The principle amount is Rs 2000 and the interest rate is 10%