Question

6. A money lender lends 14,000 for 3 years to get an interest of 2310. At what rate
per cent p.a. did he charge the interest?​

Answer 1

Answer:

5.5%

Step-by-step explanation:

SI=(P*R*T)/100

2310=(14,000*r*3)/100

r=77/14

r=5.5%

Answer 2

The rate of interest is 5.5%.

Step-by-step explanation:

Given : A money lender lends 14,000 for 3 years to get an interest of 2310.

To find : At what rate  per cent p.a. did he charge the interest?​

Solution :

Using interest formula,

$I=\frac{P\times R\times T}{100}$

Where, P=Rs.14,000 is the principal

I=Rs.2310 is the interest

R is the interest rate

T=3 years is the time

Substitute the values,

$2310=\frac{14000\times R\times 3}{100}$

$R=\frac{2310\times 100}{14000\times 3}$

$R=5.5\%$

The rate of interest is 5.5%.

#Learn more

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