Question

The amount of a sum of money of 4 years is 620, and the amount of 6 years is 680, then find the principle and rate of interest

Answer 1

Answer:

principal =₹500

rate of interest=30% per annum

Step-by-step explanation:

let the principal x and rate of interest be y.

A.T.Q.

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

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

subtract 1 from 2

x+6y=680

x+4y=620

(-) (-) (-)

________

0+2y=60

_________

y=30

now,

substitute y in eq(1)

x+4y=620

x+4(30)=620

x+120=620

x=620-120

x=500