Question
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 interests.
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 interests.
Answer: Option C
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S.I. for 1½years = Rs.(1164-1008) = Rs.156
S.l. for 2 years = Rs.(156*(2/3)*2)=Rs.208
Principal = Rs. (1008 - 208) = Rs. 800
Now, P = 800, T = 2 and S.l. = 208
Rate =(100* 208)/(800*2)% = 13%
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