Question

At what rate percent per annum will Rs 1600 amount to Rs 2832 in 11/2 years?

Answer 1

Answer:

14% will be the rate

Step-by-step explanation:

principle = 1600 Rs.

amount = 2832 Rs.

time = 5 1/2 or 11/2 years

SI = A - P  =     (2832 - 1600) = 1232 Rs.

Rate = SI x 100/P x T  =  1232 x 100 x 2/1600 x 11

= 77 x 2/11

= 7 x 2 = 14                So the rate in 5 1/2 years = 14%

Answer 2

Given: Principal (P) = ₹ 1600

          Amount (A) = ₹ 2832

          Time (T) = $\frac{11}{2}$ years

To Find: The rate of interest per annum (R).

Solution:

Simple Interest (S.I) = A - P

                                = ₹ (2832 - 1600)

                                = ₹ 1232

We know,

S.I = $\frac{P\times T\times R}{100}$

⇒ 1232 = $\frac{1600\times 11\times R}{100\times 2}$

⇒ R = $\frac{1232\times 100\times 2}{1600\times 11}$

⇒ R = 14%.

Answer: The rate of interest per annum is 14%.