Question

8. A sum of Rs 16,000 amounts to Rs 18,000 in 3 years.Find the rate of interest.
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Answer 1

Answer:

Amount = Rs. 18000

Time = 4 years

Principle = Rs. 16000

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ToFind

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Rate = ??

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Solution

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\sf{\red{\boxed{\bold{Interest = Amount - Principle }}}}

Interest=Amount−Principle

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\sf :\implies\: {\bold{Interest = Rs. 18000 - Rs. 16000}}:⟹Interest=Rs.18000−Rs.16000

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\sf :\implies\: {\bold{ Interest = Rs. 2000}}:⟹Interest=Rs.2000

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\sf{\red{\boxed{\bold{Interest = \dfrac{principle\times rate\times time}{100}}}}}

Interest=

100

principle×rate×time

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\sf :\implies\: {\bold{ 2000 = \dfrac{16000\times rate\times 4 }{100}}}:⟹2000=

100

16000×rate×4

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\sf :\implies\: {\bold{ 2000 = \dfrac{1600\times rate\times 4 }{10}}}:⟹2000=

10

1600×rate×4

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\sf :\implies\: {\bold{ 2000 = 160\times rate\times 4 }}:⟹2000=160×rate×4

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\sf :\implies\: {\bold{ r = \dfrac{2000}{160\times 4}}}:⟹r=

160×4

2000

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\sf :\implies\: {\bold{ r = \dfrac{1000}{160\times 2}}}:⟹r=

160×2

1000

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\sf :\implies\: {\bold{ r = \dfrac{500}{160}}}:⟹r=

160

500

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\sf :\implies\: {\bold{ r = \dfrac{50}{16}}}:⟹r=

16

50

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\sf :\implies\: {\bold{ r = \dfrac{25}{8}}}:⟹r=

8

25

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\sf :\implies\: {\bold{ r = 3 \dfrac{1}{8}}}:⟹r=3

8

1

Answer 2

Answer:

I don't really understand this but I can give you the formula

Step-by-step explanation:

Rate of Interest, R = $\frac{I*100}{PT}$

R = Rate of Interest

I = Interest

P = Principal

T = Time

So, R = (I x 100) divided by Principal x Time (in this case its 3 years)