A SUM OF MONEY LENT OUT AT SIMPLE INTEREST AMOUNTS TO RS. 2800 IN 4 YEARS AND TO RS. 2200 IN ONE YEAR.FIND THE SUM OF MONEY AND THE RATE OF INTEREST.

• Let the Principal be P
  So as per conditions after 4 years: P+(P*R*4/100)=2800
  As per 2nd condition P+(P*R*1/100)=2200
  Subtract 2equation from 1
  3P*R/100=600
  P*R=20000
  Put the value of P*R in equation 1
  P+(20000*4/100)=2800 =>P=2000
  R=10%
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