Principal amount is 8,500, rate is 3%, time 2years = interest _____
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Answer:
A sum of money invested at simple interest amounts to Rs.8500 in three years and Rs.9350 in five years.
(9350 - 8500) = Rs.850 is the simple interest of 2 years.
(850/2) = Rs.425 is the SI of 1 year.
So, (425×3) = Rs.1275 is the SI of 3 years.
Hence, principle = (8500–1275) = Rs.7225
And the rate of interest is = (1275×100)/(7225×3)% = 5.88%
Step-by-step explanation:
Answered by
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Answer:
Interest = Principal × Rate × Time / 100
= 8500 × 3 × 2 / 100
= 85 × 3 × 2 / 1 ( 00 cut)
= 510
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