A certain sum of money amounts to Rs. 1008 in 2 years and to Rs. 1164 in 3 ½ years. Find the sum and rate of interest

• As we know,Amount=principal+simple interest
  First equation (for 2 years) is
  1008=p+(SI for 2years) -----(1)
  second equation (for 3 1/2 years) is
  1164=p+(SI for 3 1/2years) -----(2)
  subtracting equation (1) and (2) we get
  (SI for 3 1/2years)-(SI for 2years)=1164-1008
  SI for 1 1/2 year=156
  3/2 SI=156
  SI for 1year=156*2/3=104
  substitute SI value in equation(1),we get
  1008=p+(2*SI for 1year)
  1008=P+(2*104)
  principal=1008-208=800=sum
  SI for 2years=P*T*R/100
  208=800*2*R/100
  Finally,we get R
  R=208*100/(800*2)=13
• 8 years agoHelpfull: Yes(1) No(0)