Question

after 2 year the credit balance in a savings account earning simple interest was Aryas 585. 75 point the original amount was Rs 550.What was the interest rate? step by step explanation​

Answer 1

Step-by-step explanation:

SI= A-P

585-550=35

SI=PRT/100

35=550×2×R/100

3500=1100R

R=3500÷1100=3.18

Answer 2

The interest rate would be 3.575%.

Step-by-step explanation:

Since we have given that

Original amount = Rs. 550

Amount = Rs. 585.75

So, Simple interest = Amount - Principal

$=585.75-550\\\\=Rs.\ 35.75$

time = 2 years

So, the interest rate would be

$SI=\dfrac{P\times R\times T}{100}\\\\35.75=\dfrac{500\times 2\times R}{100}\\\\3575=1000\times R\\\\\dfrac{3575}{1000}=R\\\\3.575\%=R$

Hence, the interest rate would be 3.575%.

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After 2 years ,the credit balance in a saving account earning simple interest is 585.75 and the original amount was 550.what was the interest rate?​

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