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 5 years from now . What is the related interest rate ?
Created: 7 months ago | Updated: 1 month ago
Job Solution Bangladesh Bank Bangladesh Bank - Assistant Director - 2010 গণিত
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Solution: 

(5 – 3) yr = 2 yrs interest = (500 – 460) = 40 tk 

1 year interest = 40/2 = 20 tk. 

3 year interest = (20 × 3) = 60 tk 

Principal amount= (460 – 60) = 400 tk

So,  Interest rate = 60/(400×3) = 0.05 = 5%

 

 

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