Question

At what rate percent per annum will 8000 Rs. yield an interest of Rs.1800 in 3/2 years.​

Answer 1

Question:-

At what rate percent per annum will 8000 Rs. yield an interest of Rs.1800 in 3/2 years.?

Required Answer:-

Given:-

• Principal amount = Rs. 8000
• Interest = Rs. 1800
• Time = 3/2 years

To Find:-

• Rate of interest

Solution:-

We know that:-

• I = PTR

Where,

• I = Interest
• P = Principal Amount
• T = Time
• R = Rate of interest.

We have,

• Principal amount P = Rs. 8000
• Interest I = Rs. 1800
• Time T = 3/2 years

Substituting the values:-

1800 = 8000 x 3/2 x R

=> 8000 x 3/2 x R = 1800

=> R = {(1800 x 2) / (8000 x 3) x 100} %

=> R = (0.15 x 100)%

=> R = 15%

Hence, rate of the interest is 15%

Answer 2

Information provided with us:

• At what rate percent per annum will 8000 Rs. yield an interest of Rs.1800 in 3/2 years

What we have to calculate:

• Rate per cent that the money was amounted in a certain period of time.

Using Formulas:

Simple Interest:-

• P × R × T / 100

Here,

• P is principal
• R is rate of interest
• T is time taken

Basic concept understanding:

• The money borrowed is called the Principal, the extra money paid for using lender's money is called the interest and the total money, paid to the lender at the end of the specified period is called the amount. Also the annual charging of money at a specific loan is called rate of interest

Given :

• P = Rs.8000
• T = 3/2 years
• I = Rs.1800
• R = ?

Putting the required values in the formula,

➺ 1800 = 8000 × 3/2 × R / 100

➊ Setting it according to denominator,

➺ 1800 = 8000 × 3 × R / 100 × 2

➋ Cancelling the zeroes,

➺ 1800 = 800 × 3 × R / 10 × 2

➌ Again cancelling zeroes,

➺ 1800 = 80 × 3 × R / 1 × 2

➍ After multiplying 80 with 3 we gets,

➺ 1800 = 240 × R / 1 × 2

➎ Multiplying 1 by 2 in denominator,

➺ 1800 = 240 × R / 2

➏ Dividing by 2,

➺ 1800 = 120 × R

➐ Multiplying 120 with R,

➺ 1800 = 120R

➑ Transposing the sides,

➺ R = 1800 / 120

➒ After cancelling zero we get,

➺ R = 180 / 12

➓ Dividing by 3,

➺ R = 90 / 6

➊➊ Again dividing by 3,

➺ R = 45 / 3

➊➋ At last now we gets,

➺ R = 15

Therefore, the rate of interest should be 15% so that it yields Rs.8000 at an interest of Rs.1800 in 3/2 years.

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