Question

a sum of RS 75000 amounts to rs 115500 in 6 years what is the rate of simple interest?​

Answer 1

Answer:

s.i = pnr/100

p=75000

n =6yrs

sum =115500

r =?

SI =75000×6×r/100

SI= 4500r

sum is p+SI

115500= 4500r+75000

115500-75000/4500=r

r =9%

answer is 9%

Answer 2

Answer:

If a sum of Rs. 75000 amounts to Rs. 115500 in 6 years, then the rate of simple interest will be 9%.

Explanation and Calculation:

The formula to calculate simple interest is:

$SI = \frac{p\times r\times t}{100}$

where,

p = the principal amount

r = rate of simple interest

t = time (in years)

∵ The man took a loan amount of Rs. 75000 and has to repay a total amount of Rs. 115500, the interesting part of his repayment amount is

= Rs. (115500 - 75000) [∵ Total amount = principal + SI]

= Rs. 40500

∴ By the problem,

$SI = \frac{p\times r\times t}{100}$

⇒ $40500 = \frac{75000\times r\times 6}{100}$

⇒ $r = \frac{40500 \times 100}{75000 \times 6}$

⇒ r = 9%

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