A sum of money amounts ro₹10000 after 5 years and ₹ 15000 after 8 years at the same rate of simple interest . Find the rate of interest per annum.
Answers
Answer:
99.99
Step-by-step explanation:
Given :A sum of money amounts to rs 10000 after 5 years and rs 15000 after 8 years at the same rate of simple interest.
To Find : find the rate of interest
Solution:
Amount after 5 years = Rs.10000
Amount after 8 years = Rs.15000
So, Simple interest for 3 years = Rs.15000-Rs.10000 =Rs.5000
So, Simple interest in 1 year = \frac{5000}{3}35000
So, Simple interest in 5 years= \frac{5000}{3}\times 535000×5
= 8333.3338333.333
Amount after 5 years = Rs.10000
Simple interest in 5 years= 8333.333
Principal = Amount - Interest
=Rs.10000-Rs. 8333.333
=Rs.1666.667
So, SI =\frac{P \times R \times T}{100}SI=100P×R×T
8333.333 =\frac{1666.667 \times R \times 5}{100}8333.333=1001666.667×R×5
\frac{8333.333 \times 100}{1666.667 \times 5}=R1666.667×58333.333×100=R
99.99=R99.99=R
Hence the rate of interest is 99.99%
Answer:
Step-by-step explanation:
Given :A sum of money amounts to rs 10000 after 5 years and rs 15000 after 8 years at the same rate of simple interest.
To Find : find the rate of interest
Solution:
Amount after 5 years = Rs.10000
Amount after 8 years = Rs.15000
So, Simple interest for 3 years = Rs.15000-Rs.10000 =Rs.5000
So, Simple interest in 1 year = \frac{5000}{3}35000
So, Simple interest in 5 years= \frac{5000}{3}\times 535000×5
= 8333.3338333.333
Amount after 5 years = Rs.10000
Simple interest in 5 years= 8333.333
Principal = Amount - Interest
=Rs.10000-Rs. 8333.333
=Rs.1666.667
So, SI =\frac{P \times R \times T}{100}SI=100P×R×T
8333.333 =\frac{1666.667 \times R \times 5}{100}8333.333=1001666.667×R×5
\frac{8333.333 \times 100}{1666.667 \times 5}=R1666.667×58333.333×100=R
99.99=R99.99=R
Hence the rate of interest is 99.99%