Question

5. A weaver who had taken a loan of 40,000 from a
moneylender finds that he has to pay 44,500 to clear
his dues after only 75 days. Find the annual rate of
simple interest charged by the moneylender.​

Answer 1

Answer:

Simple Interest = Amount - Principal

= 44,500 - 40,000

= 4,500

.

T = 75 Days

= 2½ months

.

r = \frac{si \times 100}{p \times t}r=

p×t

si×100

.

r = \frac{4500 \times 100}{40000 \times \frac{5}{2} }r=

40000×

2

5

4500×100

In tha above step you can directly divide 40000 by 2 to get

r = \frac{4500 \times 100}{20000 \times 5}r=

20000×5

4500×100

r = \frac{9}{2}r=

2

9

r = 4.5\%r=4.5%