Question If a sum of money amounts to Rs. 2175 in 3 years and to Rs. 2625 in 5 years.Find the rate of interestsl

The rate of interest applied on the amount is 15%. According to the statement we have given that the sum of money amounts to Rs. 2175 in 3 years and to Rs. 2625 in 5 years. And we have to find the rate of interest on this money. So, For this purpose, The given equation is: Money in 3 years = 2175 Money in 5 years = 2625 Amount increased in 2 years = 2625-2175 Amount increased in 2 years = 450 And amount increased per year = 450/2 Amount increased per year = 225. SI in 3 years=450/2 *3=Rs. 675 Principal amount= 2175-675=1500 so again, R=(I*100)/(P*T) R=15% So, The rate of interest applied on the amount is 15%. Learn more about rate of interest here https://brainly.com/question/14714045 #SPJ1 Log in to Reply

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