Question

3. A sum of rupees 3200 becomes rupees 3456 in two years at a certain rate of simple interest. What is the rate of
interest per annum?​

Answer 1

Answer:

The rate of interest is 4% per annum

Step-by-step explanation:

Given:

• The principal amount is Rs. 3200
• Time period for the amount is 2 years

To find: Rate of interest per annum

Solution:

Given data

P = Rs.3200

t = 2

R = ?

Simple Interest:

Simple Interest (S.I.) is a way for calculating how much interest will collect on a specific principal sum of money at a certain rate of interest.

Simple Interest ( SI) = P × R × T / 100.

R = $\frac{S.I * 100}{P * t}$

we know the value of P and t

Simple Interest = Amount - Principal

            = 3456 - 3200

            = 256

Simple interest S.I = Rs 256

R = $\frac{S.I * 100}{P * t}$

S.I = Rs.256

P = Rs.3200

t = 2

R = $\frac{256 * 100}{3200 * 2}$

 = $\frac{25600}{6400}$

 = $\frac{256}{64}$

= 4 %

Rate of interest = 4%

Final answer:

The rate of interest is 4% per annum

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