A man invest Rs 2000 for 3 years.He also invest Rs 1600 for the same period, but rate 2% higher than the first. These transactions enable him to earn an interest of Rs 996 at the end of 3 years. Find the two rates of interest.

Dear student ,

let initially Man invest Rs 2000 for 3 years at the rate of x%Next man invest Rs 1600 for 3 years at the rate of x+2 %Now , According to given question using Formula of SI=P×R×T1002000×3×x100+1600×3×x+2100=99660x+48x+2=99660x+48x+96=996108x=996-96108x=900x=8.33% So , first rate of interest=8.33%and second rate of interest=10.33%

Regards

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