Question

The simte intrest on a certain sun of money for 3 years is 1080 and the CI on same sun at the same rate is 741.60 Find: the Rate of interest ii principal​

Answer 1

Answer:

Step-by-step explanation:

It is given that  

SI for 3 years = 1080  

SI for 2 years = (1080×2)/3=720

CI for 2 years = 741.60

So the difference = 741.60−720=21.60

Here 21.60 is the SI on 720/2 = 360 for one year  

(i) We know that  

Rate = (SI×100)/(P×t)

Substituting the values

= (21.60×100)/(360×1)

Multiply and divide by 100

=(2160×100)/(100×360×1)

= 6%  

(ii) 1080 is SI for 3 years at the rate of 6% p.a.

So the principal =(SI×100)/(r×t)

Substituting the values  

=(1080×100)/(6×3)

= 6000