Question

At what rate% per annum will the simple interest on ruppes6950 be ruppes347.50 in five months

Answer 1

Rate per annum = 12%

Answer 2

Given :-

Principal = 6950

Simple interest = 347.50

Time = 5 months

$= > \frac{5}{12} \: years$

☆Formula Used ☆

$= > \: s.i \: = \frac{p \times r \times t}{100}$

Si = Simple interest

P = Principal

T = time

R = rate of interest

So ,

$= > 347.50 = \frac{6950 \times \frac{5}{12} \times r }{100}$

$= > \frac{347.50 \times 100}{6950 \times \frac{5}{12} }$

$r \: = 12\%$

Hence the rate of interest is 12%

☆Important formula For Sloving Such Questions☆

$si \: = \frac{p \times r \times t}{100}$

☆Extra Brainly Knowledge☆

Definitions

Simple Interest - Simple interest is a quick and easy method of calculating the interest charge on a loan.

Principal - The Given Amount is Known as Principal .

Time - Here, The time Given to Take interest Or Pay Interest Is Known As time .

☆Extra Important things to know About this type Questions ☆

Simple Interest And Compound Interest

$= > \: s.i \: = \frac{p \times r \times t}{100}$

Si = Simple interest

P = Principal

T = time( In Years)

R = rate of interest

☆Extra important Formulae ☆

$amount \: = p \: (1 + r \: \: \: is \: to \: 100) {}^{t}$

$compoud \: interest \: = p(1 \: + r \: is \: to \: 100) {}^{t}$

$amount \: = principal \: + compound \: interest \:$