Question

If a sum of money amounts to Rs 620 in 4 years and to Rs 680 in 6 years.
Find the principal and rate of interest?
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Answer 1

Answer:

Principal=Rs.500

Rate of interest=30% per annum

Step-by-step explanation:

Let the principal be X and rate of interest be y.

A.T.Q

x+4y=620-----------eq(1)

x+6y=680-----------eq(2)

subtracting (1)from (2)

x+6y=680

x+4y=620

_________

2y=60

y=30

Now putting y=30 in eq(1)

x+4×30=620

x+120=620

x=620-120

x=500