Interest Q.3

3A certain sum of money amounts to Rs 1008 in 2 years and to Rs 1164 in 3 1/2 years. Find the sum and the rate of interest.

Option : B
Explanation : $INTEREST$
Therefore, principal = Rs (1008 – 208) = Rs 800.
Now, P = 800, T= 2 and S.I. = 208.
Therefore, rate = (100 × S.I.)/(P × T) = [(100 × 208)/(800 × 2)]% = 13%

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