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Algebra Level pending

A certain sum of money amounts to Rs 7378 in 2 years and Rs 8082 in 3 years. Find the rate of interest and the principal. (HINT : For more convenience, use the Simple Interest formula.)

Rate = 20% ; Principal = Rs 2066 Rate = 12.37% ; Principal = Rs 2000 Rate = 11.79% ; Principal = Rs 5970 Rate = 45% ; Principal = Rs 6780 Rate = 13.2% ; Principal = Rs 3607

Ronak Sahai by Ronak Sahai , 20, India

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1 solution

Ronak Sahai
Mar 19, 2017

Given,

Amount in 2 years = Rs 7378

Amount in 3 years = Rs 8082

So,

Interest in 1 year = Rs 8082 - Rs 7378 

                        = Rs 704

Therefore,

Interest in 2 years = Rs 704 × 3 704 \times 3 

                          = Rs 1408

Now, Principal = Amount - Interest 

                    = Rs 7378 - Rs 1408

                    = Rs 5970

Let Rate be x

We know,

SI = P R T 100 \frac{PRT}{100}

So,

R s 1408 = 5970 × 2 × x 100 Rs 1408 = \frac{5970 \times 2 \times x}{100}

5 × 1408 = 597 × x 5 \times 1408 = 597 \times x

7040 = 597 × x 597 \times x

7040 597 = x \frac{7040}{597} = \ x

11.79 (approx.) = x \ x

Therefore,

Principal = Rs 597 &

Rate = 11.79% (approx.)

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