What sum of money at simple interest,amount to Rs.800 in 4 years and amount to Rs.900 in 6 years.Find the principal value and rate of interest.
Question
Solution 1
Given that the sum of money amounts to Rs.800 in 4 years and Rs.900 in 6 years.
The difference in the amount of money over the two periods is Rs.900 - Rs.800 = Rs.100.
This difference is the simple interest accrued over the difference in time, which is 6 years - 4 years = 2 years.
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