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Principal and Simple Interest

  1. Dec 30, 2004 #1
    Question:
    A Certain sum of money amounts Rs. 600 in 2 years and to Rs. 650 in 3 years at Simple Interest. Find the Sum ?
     
  2. jcsd
  3. Dec 30, 2004 #2
    Step 1 > What is the formula for simple interest?
    Step 2 > Note that the principal amount is same in both cases.
    Step 3 > We are given 2 different N's here.
    Step 4 > R is going to remain same (This has to be assumed! No other choice)
    Step 5 > Write the equations out and algebraically manipulate them.

    -- AI
     
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