Question

Asmita borrowed rs 21000 for 4 years at a certain rate of interest. if she returned rs 273000 at the end of the period, what was the rate of interest ​

Answer 1

Step-by-step explanation:

amount is 273000, principal is 21000 and t is 4 years by

$p ({1 + r \div 100})^{t}$

found the value of r

Answer 2

Answer:

The rate of interest = 300%      

Step-by-step explanation:    

Given Asmita borrowed Rs.21000 for 4 years at a certain rate

          the amount that she returned is Rs.273000  

here we need to find rate of the interest

from above data, principal amount P = 21000 Rs

                                   time period  T = 4 years

                                  let R be the rate of interest

the resulting amount returned by Asmita = 273000 Rs

⇒  interest = resulting amount - principal amount

⇒  273000 - 21000 =  252000  

the formula for interest is given by  $I = \frac{PTR}{100}$        

                                           252000 = $\frac{21000 (4) (R)}{100}$  

                                         R = $\frac{252000(100)}{21000(4)}$  

                                         R = $\frac{252(100)}{21(4)}$  

                                         R = $\frac{25200}{84}$  

                                         R = 300%