A man lent rs. 800 for 3 years and rs. 630 for 5 years to two persons of interest. he received rs. 41.50 more as interest from one than what he receive the other. using s.i find the rate of interest.
Answers
Given :- A man lent rs. 800 for 3 years and rs. 630 for 5 years to two persons of interest. he received rs. 41.50 more as interest from one than what he receive the other.
Answer :-
Let us assume that, the man lent both sum at R% per annum .
so,
→ Simple interest = (Principal * Rate * time)/100
then,
→ (630 * R * 5)/100 - (800 * 3 * R)/100 = 41.5
→ 31.5R - 24R = 41.5
→ 7.5R = 41.5
→ R ≈ 9.54% per annum .
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answer r is 5.53
Step-by-step explanation:
Let us assume that the man lent both sum at r% per annum
simple interest= P* r * n / 100
(first person simple interest - second person simple interest) =interest he received
( 630*r*5/100 ) - ( 800*r*5/100) = 41.5
31.5r - 24r = 41.5
7.5r = 41.5
r = 41.5 / 7.5
r = 5.53
The interest for second person
simple interest= P* r * n / 100
SI = 630*5.5*5/100
SI = ₹173.25
therefore ,
The rate of interest = 5.5%
interest for the second person = ₹ 173.25