a sum of money amount to rs.98000 after 5 years and rs.12005 after 8 years at the same rate of simple interest.the rate of interest per annum is;

• get SI of 3 years = 12005 - 9800 = 2205
  
  SI for 5 years = (2205/3)*5 = 3675
  
  Principal = 12005 - 3675 = 6125
  
  So Rate = (100*3675)/(6125*5) = 12%
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• Principal=9800-3675=6125 mistake@SILPA
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• 12005/9800
  ans.*
  
  
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• amount=98000 principal=? rate=? time=5
  amount=12005 principal=? rate=? time=8
  amount=p+(prt/100)
  calculate both equations
  after calculation
  p= 241325
  r= -11.87
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