Question

when a certain sum of money is deposited at simple interest it amount to 2 400 rupees in 2.5 years and 2640 rupees in 4 years find the rate of simple interest​

Answer 1

Answer:

8%

Step-by-step explanation:

PRT/100 +P = 2400

PRT/100 +P = 2640

Subtract & get PR = 16000

So , P = 2000 & R = 8

Answer 2

Rate of simple interest is 20%.

Step-by-step explanation:

Since we have given that

Amount in 2.5 years = Rs. 2400

Amount in 4 years = Rs. 2640

Difference of both is given by

Amount in 4-2.5 years = 2640 - 2400

Interest in 1.5 years = 240

Interest in 1 year = $\dfrac{240}{1.5}=160$

Interest in 2.5 years = $160\times 2.5=400$

Sum would be

Amount - Interest = 2400 - 400 =2000

So, Rate of interest would be

$\dfrac{400}{2000}\times 100\\\\=20\%$

Hence, Rate of simple interest is 20%.

# learn more:

The simple interest and compound interest on a certain sum of money for 2 years are 2400 and 2640 respectively the rate of interest are same the rate on the sum lent at compound interest compounded annually find the rate of interest​

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