A certain sum of money amounts to Rs.1300 in 2 years and to Rs. 1525 in 3.5 years. Find the sum and the rate of interest ?



A certain sum of money amounts to Rs.1300 in 2 years and to Rs. 1525 in 3.5 years. Find the sum and the rate of interest ?

A. Rs 850 , 10%

B. Rs 900, 12%

C. Rs 800, 13%

D. Rs 1000,15%

Answer : D. Rs 1000, 15%...


Explanation :

    1525 - 1300 = 225 for 1.5 yrs (3.5 - 2)
    So for one yr 225 / 1.5 = 150
    then for 2 yrs interest is 150 + 150 = 300
    Then principal 1300 - 300 = 1000.
    Now 150 / 1000 * 100 = 15%


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