Let's assume the principal amount is P.

According to the given information, the ratio of the amounts for 3 and 2 years is 21:20.

Let's calculate the amount after 3 years:
Amount after 3 years = P + (P * r * 3), where r is the rate of interest.

Let's calculate the amount after 2 years:
Amount after 2 years = P + (P * r * 2)

According to the given ratio, we have the equation:
(P + (P * r * 3)) / (P + (P * r * 2)) = 21/20

To solve this equation, we can cross-multiply:
20 * (P + (P * r * 3)) = 21 * (P + (P * r * 2))

Expanding the equation:
20P + 20P * r * 3 = 21P + 21P * r * 2

Simplifying the equation:
60P * r = 42P * r

Dividing both sides by P * r:
60 = 42

This equation is not possible, as 60 cannot be equal to 42.

Therefore, there is no valid rate of interest that satisfies the given conditions.

Question

Let's assume the principal amount is P.

According to the given information, the ratio of the amounts for 3 and 2 years is 21:20.

Let's calculate the amount after 3 years:
Amount after 3 years = P + (P * r * 3), where r is the rate of interest.

Let's calculate the amount after 2 years:
Amount after 2 years = P + (P * r * 2)

According to the given ratio, we have the equation:
(P + (P * r * 3)) / (P + (P * r * 2)) = 21/20

To solve this equation, we can cross-multiply:
20 * (P + (P * r * 3)) = 21 * (P + (P * r * 2))

Expanding the equation:
20P + 20P * r * 3 = 21P + 21P * r * 2

Simplifying the equation:
60P * r = 42P * r

Dividing both sides by P * r:
60 = 42

This equation is not possible, as 60 cannot be equal to 42.

Therefore, there is no valid rate of interest that satisfies the given conditions.

Knowee AI · Accepted Answer