Mathematics for FinanceMTP Apr 21Question 1322 of 479
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A sum of money amounts to 20,800\displaystyle 20,800 in 5\displaystyle 5 years and 22720\displaystyle 22720 in 7\displaystyle 7 years. Find the principle and rate of interest.

Options

A5000,6%\displaystyle 5000, 6\%
B16000,8%\displaystyle 16000, 8\%
C80000,8%\displaystyle 80000, 8\%
D10000,10%\displaystyle 10000, 10\%
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Correct Answer

Option b16000,8%\displaystyle 16000, 8\%

All Options:

  • A5000,6%\displaystyle 5000, 6\%
  • B16000,8%\displaystyle 16000, 8\%
  • C80000,8%\displaystyle 80000, 8\%
  • D10000,10%\displaystyle 10000, 10\%

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