A certain sum of money amounts to Rs. 600 in 2 year and Rs. 700 in 4 years at a
certain rate of simple interst. Find the rate

Question

A certain sum of money amounts to Rs. 600 in 2 year and Rs. 700 in 4 years at a
certain rate of simple interst. Find the rate of interest
1) 5%
2) 8%
37 10%
4) 16%
5) None​

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Mia 10 months 2021-07-19T03:19:38+00:00 1 Answers 0 views 0

Answers ( )

    0
    2021-07-19T03:21:20+00:00

    Answer:

    the increase in amount from year 2 to year 4 is 100

    So the simple interest must have been 100,

    using the formula, R = SI x 100/ P x T

    here time is 4 – 2 = 2 years and principal is 600

    So, R = 100 x 100/ 600 x 2 = 50/6 % or 25/3 %

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