Home

Solve any problem
(step by step solutions)
Input table (Matrix, Statistics)
Mode :
SolutionHelp
Solution
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.

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)/100`

`R = (SI*100) / (P*N) = ( 208 * 100 ) / ( 800 * 2 ) = 13`

The Sum of money is Rs. `800` and the rate of interest is `13` %






Solution provided by AtoZmath.com
Any wrong solution, solution improvement, feedback then Submit Here
Want to know about AtoZmath.com and me
  
 

Share with your friends, if solutions are helpful to you.
 
Copyright © 2018. All rights reserved. Terms, Privacy