Question

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Shyam lent out 1,000 to Mohan for 2 years and 300 for 3 years at simple interest. He got 217.50 in all as interest. Find the rate of interest.​

Answer 1

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S.I. for 2 years = Rs. 720.

→ S.l. for 7 years = Rs. 1020

Therefore,

S.l. for 5 years = Rs. 1020- Rs. 720= Rs. 300.

→ S.l. for 2 years = 300

*2=Rs.120

→ Principal=720-120=Rs.600

The sum is Rs.600.

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Answer 2

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• Shyam lent out 1,000 to Mohan for 2 years and 300 for 3 years at simple interest.
• He got 217.50 in all as interest.

• SI = (1000×2×R)/100 + (300×R×3)/100
• 21750 = 2000R + 300R
• 2300R = 21750
• R = 9.4 %