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A certain sum amount to be rupees 5150 in 3 years and rupees 5350 in 7 years at simple interest find the rate of interest?
Most Upvoted Answer
A certain sum amount to be rupees 5150 in 3 years and rupees 5350 in 7...
Problem:
Find the rate of interest if a certain sum amounts to Rs. 5150 in 3 years and Rs. 5350 in 7 years at simple interest.
Solution:
Let the principal be 'P' and the rate of interest be 'r'. Using the formula for simple interest, we can write:
- P + P*r*3/100 = 5150
- P + P*r*7/100 = 5350
On solving these equations, we get:
- P = Rs. 4000
- r = 5%
Explanation:
From the given problem, we know that:
- P + P*r*3/100 = 5150
- P + P*r*7/100 = 5350
We can simplify these equations as follows:
- P(1 + 3r/100) = 5150
- P(1 + 7r/100) = 5350
Dividing the second equation by the first, we get:
- (1 + 7r/100)/(1 + 3r/100) = 5350/5150
On solving this equation, we get:
- r = 5%
Substituting this value of 'r' in either of the above equations, we can find the value of 'P' as:
- P = Rs. 4000
Therefore, the rate of interest is 5% and the principal is Rs. 4000.
Community Answer
A certain sum amount to be rupees 5150 in 3 years and rupees 5350 in 7...
5350-5150 = 200
P - 5150
R -?
T - 4
So, R = 200x100/5150×4 = 0.97%
P - 5150
R -?
T - 4
So, R = 200x100/5150×4 = 0.97%
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A certain sum amount to be rupees 5150 in 3 years and rupees 5350 in 7 years at simple interest find the rate of interest?
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A certain sum amount to be rupees 5150 in 3 years and rupees 5350 in 7 years at simple interest find the rate of interest? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about A certain sum amount to be rupees 5150 in 3 years and rupees 5350 in 7 years at simple interest find the rate of interest? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A certain sum amount to be rupees 5150 in 3 years and rupees 5350 in 7 years at simple interest find the rate of interest?.
A certain sum amount to be rupees 5150 in 3 years and rupees 5350 in 7 years at simple interest find the rate of interest? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about A certain sum amount to be rupees 5150 in 3 years and rupees 5350 in 7 years at simple interest find the rate of interest? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A certain sum amount to be rupees 5150 in 3 years and rupees 5350 in 7 years at simple interest find the rate of interest?.
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