Question

Anuradha deposited 15,000 in a bank for 3 years at simple interest. If she
received 24.000 at the end of the period, find the rate of interest. ​

Answer 1

Answer:

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Step-by-step explanation:

principal amount =15000

time period =3 years

s.i=24000-15000

=9000

rate of simple interest=

9000×100÷15000×3

=20 percent

Answer 2

Given

• Principal = ₹ 15000
• Time (t) = 3 Years
• Amount = ₹24000

Explanation

Let the rate of the interest be x

✰As we know that:

↦ Amount = Principal + Interest

↦ ₹ 24000 = ₹ 15000 + Interest

↦ Interest = ₹24000 - 15000

↦ Interest = ₹ 9000

✰ We also Know that:

Now, We can find the Rate of the transaction using Simple Interest Formula as :-

➟ Simple Interest = PRT/100

➟ 9000 = 15000 × X × 3/100

➟ 9000 = 150 × X × 3

➟ 9000/150 × 3 = x

➟ x = 20%

Hence,

• The Rate of the Interest will be 20%.

More to Know

• Amount = P(1 + r/100)ⁿ
• Amount = Principal + Interest