Ram lend at simple interest rs 900 for 4 years and rs 800 for 5 years to mohan. He received rs 304 as the total amount of interest on both the sums. Find the rate of interest
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Solution:
Let each installment be x,
10000=x/(1+8/100) + x/(1+8/100)2 + x/(1+8/100)3
10000=x{25/27 + (25/27) 2 + (25/27) 3}
=x*25/27(1 + 25/27 + 625/729)
=25x/27 (2029/729)
x =3880.335
Step-by-step explanation:
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