Question

Amar and Anand borrowed ₹2000 and ₹3000 respectively at the same rate of simple interest for 3 years . If anand paid ₹ 150 more interest than Amar , find the rate of interest per annum​

Answer 1

Answer:

Find the difference in principal:

Difference in the principle amount = 3500 - 3000 = Rs 500

Find the difference in interest received a year:

Difference in the interest received for 3 years = Rs 150

Difference in the interest received for 1 years = Rs 150 ÷ 3 = Rs 50

Find the interest rate:

Interest rate = difference in interest/ difference in principal x 100

Interest rate = 50/500 x 100 = 10%

Answer: The interest rate is 10%

Answer 2

Answer:

Answer:

Find the difference in principal:

Difference in the principle amount = 3500 - 3000 = Rs 500

Find the difference in interest received a year:

Difference in the interest received for 3 years = Rs 150

Difference in the interest received for 1 years = Rs 150 ÷ 3 = Rs 50

Find the interest rate:

Interest rate = difference in interest/ difference in principal x 100

Interest rate = 50/500 x 100 = 10%

Answer: The interest rate is 10%