Question

a sum of rs. 468.75/-was lent out at simple interest and at the end of 1 year 8 month the total amount was rs 500/-find the rate of interest per annul.

Answer 1

I hope it will help you

Answer 2

Given P = 468.75, T = 1 year 8 months = 1(8/12) = 5/3 years, A = 500.

We know that SI = PTR/100.

We know that A = SI + P

                        500 = (468.75 * 5/3 * R)/100 + 468.75

                        500 = 2343.75R/300 + 468.75

                        50000 = 3125R/4 + 46875 

                        3125R/4 = 50000 - 46875

                        3125R/4 = 3125

                        3125R = 12500

                               R = 12500/3125

                               R = 4.


Therefore the rate of interest per annum is 4%.


Hope this helps!