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A sum of money amounts to ₹9800 after 5 years and ₹12005 after 8 years at the same rate of simple interest. What will be the rate of interest?

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Respuesta :

laxmiyuvraj

Answer:

12%

Step-by-step explanation:

We can get SI of 3 years = 12005 - 9800 = 2205

SI for 5 years = (2205/3)*5 = 3675 [so that we can get principal amount after deducting SI]

Principal = 12005 - 3675 = 6125

So Rate = (100*3675)/(6125*5) = 12%

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