Question

6)If the interest on 1700 rupees is 340 rupees for 2 years the rate of interest must be __________ *
a) 12%
b) 15%
c)4%
d)10%

Answer 1

Answer:

d)10%

Explanation:

hope it will help you

Answer 2

CONCEPT :

In order to find the solution of this question, we should know about the concept of simple interest, that is, simple interest is given by the formula, I = P ×R× T/ 100

where I represents the interest, P represents the principal amount, R represents the rate of interest and T represents the time for which the interest is applied. By using this concept, we can find the answer to this question.

SOLUTION :

=>This question, we have been asked to find the rate of interest applied on Rs. 1700 for 2 years, such that the interest becomes Rs. 340. To solve this question, we should know that the simple interest is calculated by, I = P×R×T / 100

=> where I represents the interest obtained over the principal amount, P represents the principal amount on which the interest is applied, R represents the rate of interest and T represents the time for which the interest is applied

=> So, let us consider the rate of interest as R. Therefore, we can say that according to the question,

=> we have P = Rs. 1700, I = Rs. 340 and T = 2 years. So, we can write the formula of simple interest as follows.

=> R = 340× 100 / 1700×2

=> Now, on further simplification, we get,

=> R = 10

=> Hence, we can say that the rate of interest is 10% on Rs. 1700 for 2 years to obtain the interest of Rs. 340.

Therefore, option (d) is the correct answer.