Question

At what rate of percent will Rs. 1,500 amount to Rs. 2,400 in four years.​

Answer 1

Answer:

25 rate of percentwill Rs. 1,500 amount to Rs. 2,400 in four years.

Answer 2

Given,

Rs, 1,500 amounts to Rs. 2,400 in four years

To Find,

The rate of interest =?

Solution,

We can solve the question as follows:

It is given to us that Rs, 1,500 amounts to Rs. 2,400 in four years. We have to find the rate of interest.

First, we will find the simple interest.

$S.I. = Final\: Amount - Principal\: Amount$

Here,

$Final\: Amount = Rs. 2,400\\\\Principal\: Amount = Rs. 1,500$

$S.I. = 2400 - 1500 = Rs.\: 900$

Now, using the formula of simple interest,

$S.I. = \frac{PRT}{100}$

Here,

$S.I. = 900\\P = 1500\\T = 4\\R =?$

Substituting the values in the above formula,

$900 = \frac{1500*R*4}{100}$

$90000 = 6000R$

$R = \frac{90000}{6000} = 15$ %

Hence, the rate of interest is 15 %.