Question

the amount of a sum of money of 4 years is 620 and the amount of 6 years is 680. then find principal and rate of interest

Answer 1

Answer:

Principal=Rs.500

Rate of interest=30% per annum

Step-by-step explanation:

Let the principal be X and rate of interest be y.

A.T.Q

x+4y=620-----------eq(1)

x+6y=680-----------eq(2)

subtracting (1)from (2)

x+6y=680

x+4y=620

_________

2y=60

y=30

Now putting y=30 in eq(1)

x+4×30=620

x+120=620

x=620-120

x=500