Question

A person deposited a sum of Rs.10,000 in a bank. After 2 years, he withdrew Rs.4000 and at the end of 5 years, he received an amount of Rs.7900; then the rate of simple interest is?​

Answer 1

Rate of Simple interest = 5 % per annum if A person deposited a sum of Rs.10,000  then 2 years, he withdrew Rs.4000 & at the end of 5 years 7900 Rs

Step-by-step explanation:

A person deposited a sum of Rs.10,000

interest for two Years = 10000 * r * 2 /100

= 200r

He Withdrew Rs 4000

Remaining amount = 10000 -4000 = 6000

Interest for 3 Years = 6000 * r * 3/100

= 180r

He received rs 7900

=> 10000 + 200r + 180r  = 4000 + 7900

=> 380r = 1900

=> r = 5

Rate of Simple interest = 5 % per annum

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