Question

If a sum of money amount to RS.2175 in 3 years to RS.2625 in 5 years then find the rate of interest?

Answer 1

Answer:

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Answer 2

Answer:

15%

Explanation:

SI in t years,

in 0 years=0

in 3 yrs= 2175

in 5 years=2625

in 2 yrs(5-3) =2625-2175=Rs. 450

difference of 0 and 3 (3-0) we get 3 years so,

SI in 3 years=450/2 *3=Rs. 675

Principal amount= 2175-675=1500

so again,

R=(I*100)/(P*T)

R=15%