Question

A weaver who had taken a loan of 40,000 from a
moneylender finds that he has to pay 44,500 to clear
his dues after only 75 days. Find the annual rate of
simple interest charged by the moneylender.​

Answer 1

Step-by-step explanation:

Simple Interest = Amount - Principal

= 44,500 - 40,000

= 4,500

.

T = 75 Days

= 2½ months

.

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

.

$r = \frac{4500 \times 100}{40000 \times \frac{5}{2} }$

In tha above step you can directly divide 40000 by 2 to get

$r = \frac{4500 \times 100}{20000 \times 5}$

$r = \frac{9}{2}$

$r = 4.5\%$