Question

The sum of $360 becomes $540 in 9 years. What is the rate of simple interest for the first 4 years, if the rate of
simple interest for the last 5 years is 6% per annum?
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Answer 1

Answer:

So, interest for first four years = 180-108 = Rs. 72; Now, rate for first four years = (72*100)/360*4; = 5%.

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Answer 2

Step-by-step explanation:

Here,

Amount= P+SI

540= 360+SI

SI= 540-360= 180

so the sum of SI of 9 years= 180

let x be the rate for the first 5 years,

So,

SI= p×r×t/100

= 360×x×5/100

= 3.6x × 5

=18x

and SI of another 4 years @6% per annum

= p×r×t/100

= 360×6×4/100

= 3.6×6×4

= 21.6×4

= 86.4

Now adding both SI with we have

18x+86.4= 180

18x= 180-84.6

x= 95.4/18

= 10.6/2

= 5.3

Therefore rate for the first 5 years= 5.3%