Question

Certain sum of money borrowed at simple interest amount to Rs.2688 in three years and to Rs.2784 in

four years at the rate per annum equal to

a. 7%

b. 6%

c. 5%

d. 4%
​

Answer 1

Answer:

Step-by-step explanation:

Amount in 3 years = Rs. 2688

Amount in 4 years = Rs. 2784

Thus, interest per year = 2784 - 2688 = Rs. 96

Principal amount = 2688 - (3 x 96) = Rs. 2400

Interest percentage = 96 / 2400 = 4%

Answer 2

Annual rate of interest is 4%.

Option 'D' is correct.

Given:

• Certain sum of money borrowed at simple interest amount to Rs.2688 in three years and to Rs.2784 in four years.

To find:

• The rate per annum equal to

• A. 7%

• B. 6%

• C. 5%

• D. 4%

Solution:

Concept to be used:

$\bf Simple \: Interest = \frac{PRT}{100}$

Step 1:

Find the difference between simple interest.

Simple interest in four years: 2784

Simple interest in three years: 2688

Simple interest in one year$=2784 - 2688$

$= 96$

Thus,

Simple interest in one year is ₹96.

Step 2:

Find the principal amount .

Simple interest in three years $= 3 \times 96$

$= 288$

Principal amount $= 2688 - 288$

$= 2400$

Thus,

Principal amount is ₹2400.

Step 3:

Find the rate of interest.

Principal amount: ₹2400

Time : 3 years

Simple interest : 288

$Rate = \frac{288 \times 100}{2400 \times 3}$

$Rate = \frac{96 }{24}$

$\bf Rate =4\%$

Thus,

Annual rate of interest is 4%.

Option 'D' is correct.

Learn more:

1) Find simple interest on Rs 1000 for 2 years at 8% per annum

https://brainly.in/question/14973024

2)What is the formula of finding rate of interest in simple int?

https://brainly.in/question/3937759

#SPJ2