Question

A sum of RS 3200 gives asimple interest RS 504 in 2year 4months . the rate of interest per annum is​

Answer 1

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✤ Required Answer:

✒ GiveN:

• Sum/Principal = Rs. 3200
• Simple Interest = Rs. 504
• Time = 2 years 4 months

✒ To FinD:

• Rate of interest per annum.....?

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✤ How to solve?

For solving this question, We need to note down the basic formula for finding Simple Interest:

$\large{ \boxed{ \rm{SI = \frac{P \times T \times R}{100} }}}$

Here,

• SI = Simple Interest
• P = Principal amount
• T = Time taken
• R is the rate of interest per annum

☃️ So, Let's solve this question...

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✤ Solution:

We have,

• SI = Rs. 504
• P = Rs. 3200
• T = 2 years 4 months

By using formula,

➝ SI = P × T × R / 100

➝ 504 = 3200 × 2 1/3 × R /100

|| Because 4 months = 1/3 year ||

➝ 504 = 3200 × 7/3 × R/100

➝ 504 × 100 / 3200 × 7/3 = R

Flipping to other side,

➝ R = 504 × 100 × 3 / 3200 × 7

➝ R = 72 × 3 / 32

➝ R = 27 / 4 %

➝ R = 6.75 %

☀️ Rate of Interest = 6.75%

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