Question

A sum of rs 28,000amounts to rs 35,000 in 4 years . what is the rate of interest​

Answer 1

Answer:

Answer is attached here

Answer 2

Given: A sum of $rs 28,000$amounts to$Rs 35,000$ in$4\ yrs.$

We have to find the rate.

As we know that the formula is used to calculate the simplest interest is:

$SI=\frac{PRT}{100}$

Where,

P = principal

R = rate,

T = time

We are solving in the following way:

We have,

P = $rs 28,000$

SI = $Rs 35,000$

T = $4\ yrs.$

Now,

$SI=\frac{PRT}{100}$

By putting the given values in the formula we get,

$=> 35000=\frac{28000\times 4\times R}{100} \\\\=>35000\times100=28000\times 4\times R\\=>3500000=112000R\\\\=>R=\frac{3500000}{112000} \\\\=> R=\frac{125}{4} \\\\=>R=31.25$

Hence, the rate will be$31.25\%$.