The sum of principal and simple interest of a certain amount of money would be Tk. 460 after three years from now and Tk. 500 after five years from now. What is the related interest rate?
Created: 6 years ago |
Updated: 2 years ago
best des
(5 - 3) = 2 years interest = (500 - 460) = 40 tk
1 years interest = 40/2 = 20 tk
3 year's interest 20 × 3 = 60 tk
Principle amount = (460 - 60) = 400 tk
Interest rate = (60×100)/(400×3) = 5% (ans)
Md Azizur Rahman
Founder of Satt
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