May 17th, 2018, 02:19 AM  #1 
Senior Member Joined: Aug 2014 From: India Posts: 295 Thanks: 1  How to solve this crazy problem?
A Certain sum amounts to 41280 in 6 years and to 29760 in 2 years at S.I. Find the sum and the rate of interest? Answer is 24000 and 12% p.a Usually they used to give one P or one T (time). But here they gave two different amounts and two different times and asking me to find one sum and one rate of interest. I am totally confused. Please help me. 
May 17th, 2018, 03:15 AM  #2 
Math Team Joined: Dec 2013 From: Colombia Posts: 7,342 Thanks: 2465 Math Focus: Mainly analysis and algebra 
You can form two equations each having the amount and the interest rate as variables. Using those equations, you can eliminate one variable and thus solve for the other. Substitute and solve for the remaining variable.

May 17th, 2018, 04:47 AM  #3 
Math Team Joined: Oct 2011 From: Ottawa Ontario, Canada Posts: 12,904 Thanks: 883 
a = start sum, r = rate Code: YEAR BALANCE 0 a 2 29760 = a + 2*a*r [Eq 1] 6 41280 = a + 6*a*r [Eq 2] 
May 17th, 2018, 09:34 AM  #4 
Senior Member Joined: Aug 2014 From: India Posts: 295 Thanks: 1 
Now should I have to eliminate R and find P?

May 17th, 2018, 09:42 AM  #5 
Math Team Joined: Oct 2011 From: Ottawa Ontario, Canada Posts: 12,904 Thanks: 883 
Yes, and EASY to do: 2 equations and 2 variables. Get to work! 
May 17th, 2018, 09:51 AM  #6  
Senior Member Joined: May 2008 Posts: 289 Thanks: 76  Beer soaked ramblings follow. Quote:
Ah Sir D, didst thou also forgot Ganesh' command for you to give a complete worked out solution instead of half baked cryptic clues that will force Ganesh to actually do some real work?  
May 17th, 2018, 09:01 PM  #7 
Senior Member Joined: Aug 2014 From: India Posts: 295 Thanks: 1 
I got the answer.

May 18th, 2018, 04:12 AM  #8 
Math Team Joined: Oct 2011 From: Ottawa Ontario, Canada Posts: 12,904 Thanks: 883 
Congratulations! Why don't you show your steps to solving, as it may help a student: this is main purpose of this site... 
May 18th, 2018, 04:33 AM  #9 
Math Team Joined: Dec 2013 From: Colombia Posts: 7,342 Thanks: 2465 Math Focus: Mainly analysis and algebra  
May 18th, 2018, 05:37 AM  #10 
Global Moderator Joined: Dec 2006 Posts: 19,289 Thanks: 1681 
By subtraction, 11520 = 4ar, so 5760 = 2ar. Hence a = 29760  5760 = 24000, and so r = 5760/48000 = 0.12 = 12%. There are various other ways of solving the two equations. 

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