Question

Balaji invested a certain sum in
a simple intrest bond whose value
grew to Rs. 300 at the end of 3 years to Rs. 400 at the end of
5 years. What is the rate of interest?
​

Answer 1

Answer:

8.33%

Step-by-step explanation:

Let principle be P and rate of interest is r.

Then, P×r×8100+P=300P×r×8100+P=300 ... (i)

and P×r×8100+P=400P×r×8100+P=400 ... (ii)

Subtracting Eq. (i) from Eq. (ii), we get

P×r×5100=100P×r×5100=100

Therefore, P×r=2000P×r=2000

From Eq. (i).

200×3100+P=300200×3100+P=300 =>P = Rs.240

Therefore, 24×r=200024×r=2000

=> r = 8.33%