Question

At what rate of simple interest will sum of Rs 12500 yield Rs 2625 as simple interest for 3 and half year.​

Answer 1

$\underline{\textbf{Given:}}$

$\textsf{Principal = Rs. 12500}$

$\textsf{Simple interest = Rs. 2625}$

$\textsf{No.of years = 3.5}$

$\underline{\textbf{To find:}}$

$\textsf{Rate of simple interest}$

$\underline{\textbf{Solution:}}$

$\mathsf{Simple\;interest=Rs.2625}$

$\implies\mathsf{\dfrac{P\,n\,r}{100}=2625}$

$\implies\mathsf{\dfrac{12500{\times}3.5{\times}r}{100}=2625}$

$\implies\mathsf{125{\times}3.5{\times}r=2625}$

$\implies\mathsf{r=\dfrac{2625}{125{\times}3.5}}$

$\implies\mathsf{r=\dfrac{21}{3.5}}$

$\implies\boxed{\mathsf{r=6\,\%}}$

$\therefore\mathsf{Rate\;of\;interest\;is\;6\,\%}$

$\underline{\textbf{Find more:}}$

What sum will amount to rs 9520 at 9% pa in 4 years at simple interest?  

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