Question

7. Mrs Shahbaz deposited Rs 12. 200 in a bank at simple interest on her sonis 1
birthday. When her son is 20 years old he receives Rs 19 520. What was the rate
of interest of class 6
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Answer 1

Answer :Mrs Shahbaz deposits RS 12,200 in a bank at simple interest on her son's 15th birthday. when her son is 20 years old he received Rs 19520 . the rate of interest was 12 % .Step by step explanation :The money was deposited when the son reached was 15 years old.when her son reached 20 years the money has stayed in the account for (20 - 15) years.= 5 yearsso, in 5 years, Rs 12200 accumulated to Rs 19520now let the interest rate be r.simple interest = P × r × t= 12200 × r/100×5= 610 rso the amount in the account is : = 12200 + 610 r = 19520 610r = 7320r = 7320/610 = 12% the rate of interest was 12%