Question

If the simple interest on Rs. 1350 be more than the interest on Rs. 1250 by Rs.20 in 2years, find the rate per cent per annum

Answer 1

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Answer 2

Answer :

Rate of interest is 10%

Solution :

let rate of interest per annum be r

therefore, (1350*r*2)/100 = [(1250*r*2)/100] + 20

                 2700r = 2500r + 2000

                 200r = 2000

                 r = 10%