Question

Rs.2200 amount to Rs.2800 in year .what is the rate percent per annum
$Rs.2200 amount to Rs.2800 in \3time \frac{?1}{?2} year .what is the rate percent per annum$
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Answer 1

Answer:

A sum of money at simple interest amounts Rs. 2,800 in 2 years and Rs.3.250 in 5 years

∴ Interst paid in 3 years =3250−2800=450 Rupees

Annual Interest =450÷3=150 Rupees

Sum lent at the begining =2800−150×2=2500 Rupees

Rate of simple Interest =(150/2500)×100=6 percent