Question

find the sum of money and and rate of interst if a sum of money lent out at simple interst amounts to 3100 in 2 years and 4000 in 5 years

Answer 1

Answer:

Step-by-step explanation:

Interest for 5 - 2 = 3 yrs

= 4000 - 3100 = ₹900

For 3 years ,Interest = ₹900

For 1 yr , interest = 900 / 3 = ₹300

For first 2 years interest

= 2 × 300 = ₹600

amount in 2 yrs = ₹3100

Sum p = amount - interest

= 3100 - 600 = ₹2500

interest = p × r × t/ 100

600 = 2500 × r × 2/ 100

r = 600 / 50 = 12%

Answer:

Sum = ₹2500, rate of interest = 12%