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Question 67
A certain sum amounts to ₹ 756 in 2 years and to ₹ 873 is $$3\frac{1}{2}$$ years at a certain rate of simple interest. The rate of interest per annum is:
Solution
P*2*R/100 =756
P*7*R/200 =873
Difference gives interest for 1 and half years=873-756=117
For 1 year interest=117*2/3
=78
For 2 years interest=78*2=156
P+I=A
P+156=756
P=600
Substituting in 1st equation we get 600*2*R/100 =756
R=13%
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