Question

The CI on a sum of money for 2yr is 170 rs & the SI on the same sum at same rate for 3 yr is 240 rs find rate of rate of interest

Answer 1

Given

Ci of 2yr=170

And si of 3 yr =240

And we know that simple interest of every yr is equal
Then Si of 1 yr=240/3 =80

Si of 2yr=2x80=160

Difference between Ci and si=170-160=10

As we know the Ci and simple interest of 1st yr is same So difference we get because in compound interest we take interest on last year interest also

Now take 80 as principal and time =1yr Si=10

Si=pxrxt /100

10=80xrx1/100 R=1000/80

R=100/8 R=25/2 R=12 1/2%

R=12.5%

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Answer 2

Step-by-step explanation:

to find rate the answer Will be 25/2