1.

A sum of money lent at simple interest amounts to Rs. 2150 in 6 years and Rs. 2900 in 11 years. What is the rate per cent per annum ?

Answer»

12%



LET the sum be x and rate of interest be R% p.a
I. 2150 = x + x x r x 6/100 = x [1 + 3r/50]
II. 2900 = x + x x r x 11/100 = x [1 + 11r/100]
Eqn (I) ÷ (II) gives,
1 + 3r/50/1 + 11r/100 = 2150/2900
∴ 50 + 3r/100 + 11r = 43/116
∴ 5800 + 348r = 4300 + 473r
∴ 125r = 1500
∴ r = 12



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