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 A sum of money lent at simple interest amounts to Rs 1008 in 2 years and to 1112 in 3 years Find the sum and the rate of interest. [ Calculator, Method and examples ]Solution:Your problem -> A sum of money lent at simple interest amounts to Rs 1008 in 2 years and to 1112 in 3 years Find the sum and the rate of interest.Principal + Interest for 3 years = 1112 Principal + Interest for 2 years = 1008 => Interest for 1 year = 1112 - 1008 = 104 => Interest for 2 years = 2 * 104 = 208 Now, Principal + Interest for 2 years = 1008 => Principal + 208 = 1008 => Principal = 1008 - 208 = 800 SI = (P*R*N)/100R = (SI*100) / (P*N) = ( 208 * 100 ) / ( 800 * 2 ) = 13 The Sum of money is Rs. 800 and the rate of interest is 13 %

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