Question

Solve it with full explanation ​

Answer 1

Answer:

4.5% Per annum

Explanation:

Let say Principle = Prs

Rate of interest =R % per annum Simple interest for 3 Years = P*R* 3/100

= 3PR/100 Rs

Amount after 3 Years = P + 3PR/100

=

P + 3PR/100 = 283.75 100 P + 3PR = 28375 - Eq 1

Simple interest for 5 Years = P*R* 5/100 = 5PR/100 Rs

Amount after 5 Years = P + 5PR/100

P+ 5PR/100 = 306.25

100 P + 5PR = 30625 - Eq 2

5* Eq1 - 3*Eq2c

500P +15PR - 300P -15PR = 5*28375 - =

3*30625

200P = 14187591875

200P = 50000

P = 250

Eq2 - Eq 1

2PR = 30625 - 28375

2*250*R = 2250

R = 2250/500

R= 4.5 %