Question

A principal of $480 earns $108 interest in 5 years. What rate of interest
was being paid?​

Answer 1

Answer:

si unit = 480×108×5/100 what is the value you get is the ans

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Answer 2

➤ Correct Question :-

A principal of ₹480 earns ₹108 interest in 5 years. What rate of interest was being paid?

➤ Given :-

Principle :- ₹ 480

Simple Interest :- ₹ 108

Time :- 5 years

➤ To Find :-

Rate of interest for the given sum.............

➤ Formula required :-

${\large \tt \dashrightarrow \orange{ \boxed{ \tt \gray{ \dfrac{SI \times 100}{P \times T}}}}}$

➤ Solution :-

Rate of interest :-

${\tt \longrightarrow \dfrac{108 \times 100}{480 \times 5}}$

${\tt \longrightarrow \dfrac{108 \times \cancel{100}}{ \cancel{480} \times 5} = \dfrac{108 \times 20}{96 \times 5}}$

${\tt \longrightarrow \cancel\dfrac{2160}{480} = \boxed{ \tt 4.5 \bf\%}}$

$\Huge\therefore$The rate of interest for the given sum is 4.5 $\bf\%$.

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$\dashrightarrow$Some related formulas :-

Simple Interest :- ${\boxed{\tt\dfrac{P \times R \times T}{100}}}$

Principle :- ${\boxed{\tt\dfrac{SI \times 100}{R \times T}}}$

Time :- $\boxed{\tt\dfrac{SI \times 100}{P \times R}}$

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More to know.................

• Simple Interest is the extra amount to be given when a person borrows some money from a bank or a person. The person who gives money is called lender. The person who takes money is called borrower.
• Principal is the amount given at first from lender to borrower.
• Rate of interest is the extra amount to be given from borrower to lender, it is always written in percentage format.
• Time is given for the borrower to return back the amount given with the given interest.