Question

The interest on a sum for the first and second years is ₹225 and is ₹238.50 respectively . Find the rate of interest and the sum?

Answer 1

Given:

The interest on a sum for the first and second years is ₹225 and is ₹238.50 respectively.

To find:

The rate of interest and sum.

Solution:

1) Let the rate of interest is R%

The interest on a sum for the first and second years is ₹225 and is ₹238.50 respectively which means

• R% of 225 = 238.5 - 225
• R% of 225 = 13.5
• 225R/100 = 13.5
• R = 1350/225
• R = 6%

2) Let the principal is P which is always 100%

Simple interest for first year = Compound interest for first year

• 6% ------------ ₹225
• 1% ------------- 225/6
• 100% --------- 225×100/6

Principal is ₹3750

The rate of interest and sum is 6% and ₹3750 repectively.

Answer 2

Step-by-step explanation:

this is the required solution of the problem sum of Compound Interest.