Question

A man borrows Rs 1500 for 4 years and Rs 6000 for 2 years at the same rate of interest. If he has to pay an interest of Rs 900 altogether ,what is the rate of interest

Answer 1

The answer for this question is 2 %

Answer 2

Step-by-step explanation:

it will find by ising I =PTR/100

i give one example see this

A person borrowed some money at 10% compound interest. If at the end of three years he returns Rs. 2662 then how much money did he borrow?

1.

Rs. 2000

2.

Rs. 1900

3.

Rs. 1800

4.

Rs. 1980

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Solution

Answer:

CI = P( 1 + RT/100)n

Where ,

CI = compound interest

R = 10

n = 3

⇒ 2662 = P ( 1 + 10/100)3

⇒ 2662 = P(11/10)3

⇒ 2662 = P(1331/1000)

⇒ 2662 × 1000/1331 = P

⇒ P = 2000