A certain sum of money amounts to 720 in 2 years and 870 in 4 5 years Find the sum and the rate of i...........

Quant (SSC) Simple Interest

Download Solution PDF

A certain sum of money amounts to ? 720 in 2 years and ? 870 in 4.5 years. Find the sum and the rate of interest.

? 600, 10%

? 600, 12%

? 620, 12%

? 660, 12%

छोटे Courses बड़े Results

Master Simple Interest

Prepare through Micro-courses

Try Now

Explanation:

Let the sum be P; the rate of interest be R.
Then, Amount = P + SI
720 = P + P × R × 2 /100 .........i
870 = P + P × R × 4.5 /100 ........ii
Eq. (ii) – (i),
2.5PR /100 = 150
⇒ PR = 6000 ...(iii)
Now, from eq (i),
720 = P + 6000 × 2 /100
⇒ P = 720 – 120 = ? 600
From eq. (iii),
600 × R = 6000
⇒ R = 10%