Simple Interest Practice Test 2

Question : 3 of 40

Marks: +1, -0

A certain sum of money amounts to Rs 1,170 in 2 years and to Rs 1,344 in

3 1/2

years. Find the sum and the rate of interest.

Solution:

SI for

11/2

years = Rs (1,344 - 1,170) = Rs 174
SI for 2 years = Rs

(174×2/3×2)

= Rs 232
∴ Principal = Rs (1,170 - 232) = Rs 938
Now, P = Rs 938, T = 2 and SI = 232
So, Rate

=({100×I}/{P×T})%

={100×232}/{938×2}=12.38%

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