Question

a man borrowed ₹2000 for 3 year and ₹ 2500 for 5 years at the same rate of interest .If he had to pay a total simple interest of ₹ 1110 find rate of interest​

Answer 1

Answer:

The rate of interest is 6 per cent per year

Step-by-step explanation:

Part 1

P = amount borrowed in Rupees = 2000

T = time period in years = 3

R = rate of interest in per cent per year

SI = P*R*T/100

=> SI = (2000*R*3)/100

=> SI = 60*R .........(i)

Part 2

P = amount borrowed in Rupees = 2500

T = time period in years = 5

R = rate of interest in per cent per year

SI = P*R*T/100

=> SI = (2500*R*5)/100

=> SI = 125*R ...........(ii)

From (i) and (ii), total SI paid by the man = 60*R + 125*R

=> Total SI = 185*R

According to the question, total SI paid by the man = Rs.1110

=> 185*R = 1110

=> R = (1110/185)

=> R = 6

Answer: The rate of interest is 6 per cent per year