CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

A certain sum of money amounts to Rs.6300/ in 2 years and Rs.7875/ in 3 years 9 months at simple interest find the rate of interest per annum.

Open in App
Solution

Let, Principle be Rs.P and Rate of interest be R% p.a.

Amount (A)=P(1+TR100)

Given that,
6300=P(1+2R100)...............(i)

7875=P(1+15R400)...............(ii)
T=3912=154 years

(ii)(i)(1+15R400)(1+2R100)=78756300

400+15R400+8R=7875÷15756300÷1575=54

4(400+15R)=5(400+8R)

1600+60R=2000+40R

60R40R=20001600

20R=400

R=20 %(Ans)

flag
Suggest Corrections
thumbs-up
1
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Simple and Compound Interest
MATHEMATICS
Watch in App
Join BYJU'S Learning Program
CrossIcon