Question

At what rate of interest per annum will a sum of Rs 8000 amount to Rs 9260 in 7/2 yrs​

Answer 1

Answer:

4.5%

Step-by-step explanation:

Given:

Principal = 8000 rupees

Amount = 9260 rupees

Time = $\frac{7}{2} = 3.5 \ years$

To find :

Rate of interest

Simple interest = amount-principal

Simple interest = 9260-8000

Simple interest = 1260 rupees

Simple interest = $\frac{P \times R \times T}{100}$

Where :

P=principal

R=rate of interest

T=time

1260 = $\frac{8000\times R \times 3.5}{100}$

1260 = 280 R

R = $\frac{1260}{280}$

R = 4.5 % per annum

The rate of interest will be equal to 4.5% per annum

Answer 2

$\red{\tt{Principal = 8000 ~rupees}}$

$\red{\tt{Amount = 9260 ~rupees}}$

$\red{\tt{Time = \frac{7}{2} = 3.5 \ years} }$

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$\red{\tt{Simple~Interest = Amount-Principal}}$

${\tt{Simple Interest = 9260-8000}}$

${\tt{Simple Interest = 1260 ~rupees}}$

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$\red{\tt{Simple~Interest = \frac{P \times R \times T}{100}}}$

${\tt{1260 = \frac{8000\times R \times 3.5}{100}}}$

${\tt{R = \frac{1260}{280}=4.5} }$

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∴ $\red{\tt{Rate = 4.5 \% per ~annum}}$