Question

A sum of money amount to ₹ 6200 in 2 years and ₹ 7400 in 3 years. Find the principal and rate of interest.

Answer 1

Amount1= 6200, R1 =2 , Amount2 = 7400, R2= 3
interest = amount 2 - amount 1
= 7400 - 6200
= 1200..
principal + 2 interest ( interest of two years)= Amount
principal + 2(1200) = 6200
principal = 6200-2400
= 3800


Now Rate:

I=Sum-Principal

I=7400-3800

I=3600

I=Prt (Principal*Rate*Time)

3600=3800*3*t

t=0.31%

t=31.5789