Question

At what rate per cent per annum will Rupees`5650 amount to Rupees`7345 in 2 years 6 months?

Answer 1

➤ Given :-

Principle :- ₹ 5660

Total amount :- ₹ 7345

Time :- 2 years 6 months ${=}$ 2.5 years

➤ To Find :-

Rate of interest of the given sum..............

➤ Formula required :-

${\tt \large \dashrightarrow \orange{\boxed{\tt \gray{\dfrac{SI \times 100}{P \times T}}}}}$

➤ Solution :-

First, we should find the simple interest by subtracting the total amount and the principle amount..........

Simple Interest :-

$\tt \longrightarrow 7345 - 5660$

${\sf \longrightarrow Rs \tt \: \: 1685}$

Now,

Rate of interest :-

${\tt \longrightarrow \dfrac{1685 \times 100}{5660 \times 2.5}}$

${\tt \longrightarrow \dfrac{1685 \times \cancel{100}}{\cancel{5660} \times 2.5} = \dfrac{1685 \times 5}{283 \times 2.5} }$

${\tt \longrightarrow \dfrac{1685 \times \cancel{5}}{283 \times \cancel{2.5}} = \dfrac{1685 \times 2}{283 \times 1}}$

${\tt \longrightarrow \cancel \dfrac{3370}{283} = \boxed{\tt 11.9 \bf\%}}$

$\Huge\therefore$ The rate of interest of the given sum is 11.9 ${\bf\%}$.

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$\dashrightarrow$ Some related formulas :-

Simple Interest :- ${\boxed{\tt\dfrac{P \times R \times T}{100}}}$

Principle :- ${\boxed{\tt\dfrac{SI \times 100}{R \times T}}}$

Time :- ${\boxed{\tt\dfrac{SI \times 100}{P \times R}}}$

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More to know..................

• Simple Interest is the extra amount to be given when a person borrows some money from a person or a bank. The person who gives money is called lender. The person who takes money is called borrower.
• Principal is the amount given at first from lender to borrower.
• Rate of interest is the extra amount to be given from borrower to lender. It is always written in percentage format.
• Time is given for the borrower to return back the given money with the given interest.