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Asked by snehakumar6321 | 14 Jan, 2023, 10:37: PM
Let P be principle and r is rate of interest per annum .

If first 2 year interest is Rs.272, then we have

................................(1)

If first 3 year interest is Rs.434, then we have

................................(2)

By dividing eqn.(1) by eqn.(2) , we get after simplification as

..................................(3)
let us substitute x = ( r/100 ) in above equation and after further simplification, we get

From above expression, we get following quadratic expression

136 x2 + 191 x - 26 = 0

acceptable solution of above expression is x = 0.125

hence  r/100 = 0.125  or    r = 12.5

Hence rate of interest per annum is 12.5 %

Answered by Thiyagarajan K | 15 Jan, 2023, 09:37: AM
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