Question

6. At simple interest a sum becomes 1.5 times of itself in 5 years. The rate of interest per cent per annum is:​

Answer 1

Step-by-step explanation:

si = pnr

A = p+si =1.5p

si = 1.5p - p = 0.5p

n = 5 years

0.5p = p× 5 × r

0.5 p/p= 0.5 = 5r

r = 0.5/5 = 0.1

r= 0.1×100 = 10%

Answer 2

The answer is 10%

GIVEN

At simple interest, a sum becomes 1.5 times itself in 5 years.

TO FIND

The rate of interest

SOLUTION

The above problem can be simply solved as follows;

Let the principal amount be P

ATQ,

The principal amount becomes 1.5 of itself.

Amount = 1.5P

we know that,

Amount = Principal + SI

1.5P = P + SI

SI = 1.5P - P = 0.5P

Formula to calculate SIMPLE INTEREST

SI = (P × R × T) ÷ 100

Putting the values;

0.5P × 100 = P × R × 5

50P = 5PR

R = 50P/5P = 10

Hence, The answer is 10%

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