Question

Solve the following problems.

A certain sum amounts to Rs. 2,870 in 2 years and Rs. 3,280 in 3 years at S.I. Find the principal and the rate of interest.

Answer 1

Amount in 3 years = Rs.3,280

Amount in 2 years =Rs.2,870

Interest for 1 year = Rs.(3,280 − 2,870) = Rs. 410

Interest for 2 years