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A certain sum amounts to Rs 1586 in 2 year and Rs 1729 in 3 year. Find the rate and the sum.
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- 8 %
- 9 %
- 10 %
- 11 %
Correct Option: D
Simple Interest in 1 year= Rs (1729 - 1586)
= Rs 143
now, SI in 2 year = Rs 286
Principal P= Rs(1586 - 286)
= 1300
And R= (100 × SI)/(P × T)
= (100 × 143)/(1300 × 1)
= 11 %
where, R = rate
SI= Simple Interest
P = Principal
T= Time
