Question

At what rate percent per year will a sum of rs 4500 amount to rs 5445 in three years?

Answer 1

Answer:

7%

Step-by-step explanation:

P= Rs. 4,500 ; Amt.= 5,445 ; T= 3 years

Interest= 5445 - 4500 = Rs. 945 ; R=?

$r = \frac{945 \times 100}{4500 \times 3} = \frac{94500}{13500} = 7\%$

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Answer 2

Answer :-

• A sum of Rs 4500 will amount to Rs 5445 in three years at the rate of 7% per year.

To find :-

• The rate percent at which a sum of Rs 4500 will amount to Rs 5445 in three years.

Step-by-step explanation :-

• Here, the principal is Rs 4500, the amount is Rs 5445 and the time is 3 years. We have to find the rate of interest first!

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Finding the simple interest :-

We know that :-

$\underline{\boxed{\sf SI = Amount - Principal}}$

Here,

• Amount = Rs 5445.
• Principal = Rs 4500.

Hence,

$\bf SI = 5445 - 4500$

$\overline{\boxed{\bf SI = Rs \: 945}}$

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Finding the rate of interest :-

Now, we know that :-

$\underline{\boxed{\sf SI = \dfrac{Principal \times Rate \times Time}{100}}}$

Here,

• Principal = Rs 4500.
• Time = 3 years.
• Simple interest = Rs 945.

• Let the rate of interest be r.

Hence,

$\rm 945 = \dfrac{4500 \times r \times 3}{100}$

Cutting off the zeroes,

$\rm 945 = \dfrac{45 \times r \times 3}{1}$

Now let's multiply the remaining numbers since we can't reduce them anymore.

$\rm 945 = 45 \times r \times 3$

Multiplying 45 with 3,

$\rm 945 = 135 \times r$

Multiplying 135 with r,

$\rm 945 = 135r$

Transposing 135 from RHS to LHS, changing it's sign,

$\rm \dfrac{945}{135} = r$

Dividing 945 by 135,

$\overline{\boxed{\rm 7\% = r}}$

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• So, the rate percent is 7%