Question

Ability
26. The sum of Rs. 550 amount to Rs. 946 in 9 years with simple interest. What is the rate of interest
percent per annum?
a. 7
b. 8
C. 9
d. 6
26.​

Answer 1

Given :The sum of Rs. 550 amount to Rs. 946 in 9 years with simple interest.

To Find :  rate of interest percent per annum

a. 7

b. 8

C. 9

d. 6

Solution:

The sum of Rs. 550 amount to Rs. 946 in 9 years

P = 550

A = 946

SI = A - P = 946 - 550  = 396

R = ?

T = 9  

SI = P * R * T /100

=> 396 = 550 * R * 9 /100

=> R = 8

rate of interest percent per annum = 8 %

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Answer 2

Given:

The sum of Rs. 550 amount to Rs. 946 in 9 years with simple interest.

To Find:

What is the rate of interest percent per annum?

Solution:

Finding Interest:

Simple Interest = Amount - Principle

Simple Interest = 946 - 550

Simple Interest = 396.

Finding Rate Percent:

SI = (PxTxR) / 100

$= > 396 = \dfrac{550 \times 9 \times r}{100}$

$= > 396 = \dfrac{99r}{2}$

$= > 99r = 792$

$= > r = \dfrac{792}{99}$

$= > r = 8$

Hence, The rate percent is 8%