Question

the amount for a sum of money in 5 years is rupees 15625 and in 3 years at the same rate of interest is rupees 10000 find the rate of interest​

Answer 1

let the rate be r

principal=Rs 10000

time=3yr

amount = Rs 15625

Simple Interest =amount-principal

=15625-10000

=5625

5625=p*t*r/100

5625=10000*3*r/100

r=5625/300

r=18.75

so, the rote of interest is 18.75%per year