Question

7. If the simple interest on Rs.1,200 be
more the interest on Rs.1,000 b
y Rs.30 in
3 years. Find the rate percent per annum.​

Answer 1

Let, r% be the rate of interest per annum.

In 3 years, the interest on Rs. 1200 at r% p.a. be

= Rs. (1200 * 3 * r)/100

= Rs. 36r

and for Rs. 1000, it will be

= Rs. (1000 * 3 * r)/100

= Rs. 30r

By the given condition,

36r - 30r = 30

⇒ 6r = 30

⇒ r = 5