A sum of money at simple interest amounts to ₹720 in 2 years while in next 5 years it amounts to ₹1020. Find the sum and the rate of interest.

15% ; ₹550 25% ; ₹650 35% ; ₹500 10% ; ₹600

10% ; ₹600

Interest in 5 years = 1020 - 720 = 300 Interest in 1 year = 60 Principal = 720 - (2 x 60)              = 600 rate = \(\frac{60}{600}\) x 100 = 10%