Question

the sum of money amount to rupees 2900 in 8 years and to rupees 3000 in 10 years at a certain rate of interest find the rate of interest per annum
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Answer 1

..........

..........

Answer 2

Answer:

2%

Step-by-step explanation:

Principal + interest for 8 years = 2900 Rs…………(I)

Principal + interest for 10 years = 3000 Rs……..…(II)

Subtracting equation (I) from (II)

Interest for 2 years = 100 Rs.

∴ Interest for 8 years = 400 Rs.

From equation (I),

Principal = (2900 – 400) = 2500 Rs.

\therefore Rate = \frac{SI\times 100}{Princ.\times Time}

= \frac{400\times 100}{8\times 2500} = 2\%