A certain sum at certain rate % per annum simple interest becomes Rs 6300 in 2 years and Rs 6750 in 5 years. The principal and rate of interest are -
According to the given information, interest of 3 years for that the given sum = 6750 – 6300 = 450 Therefore, the interest of 1 year for the same sum = 450/3 = Rs 150 Hence, required sum = 6300 – (150 × 2) = 6000 Whereas, rate of interest = (150 × 100)/(6000 × 1) = 2.5%
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