Question

Mrs Reeta deposited a sum of Rs.8400 in a bank.After 2 years she withdrew Rs.5200 and at the end of 4 years she received Rs.5288.Find the rate of Simple intrest​

Answer 1

Step-by-step explanation:

Given,

Sum = 8400

Simple interest for the 1st two years would be I₁ = P x R x T/ 100

I₁ = 8400 x R x 2/100

I₁ = Rs (168R)

Now when Reeta would  withdraw Rs 5200 after around two years.

So the principal for the next 2 years would be =

Rs 8400 - Rs 5200

= Rs 3200

Then Simple interest for next two years = I₂ = P x R x T/ 100

I₂ = 3200 x R x 2/100

I₂ = Rs 64 R

I₁ + I₂ + 3200 = 5288

168R + 64R = 5288 - 3200

232R = 2088

R = 2088/23

= 9%

Hope it helps!