Question

at what rate percent will Rs.264.35 amount to Rs.317.22 in 4 years​

Answer 1

Solution:-

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Here, the question has given us the principal, amount and time. And has asked us to find out the rate of interest. To find the rate we need to apply the formula of rate and then have to solve it by applying that formula. The final digits will be our rate.

ANSWER:-

• Rate of interest will be 5%

GIVEN:-

• Principal = Rs. 264.35
• Time = 4 years
• Amount = Rs 317.22

TO FIND:-

• Rate of interest = ?

FORMULA:-

• Rate = (100 × S.I)/(P × T)

SOLVING BY APPLYING THE FORMULA:-

⬤ Simple Interest (S.I) = Amount - Principal

⬤ Simple Interest (S.I) = 317.22 - 264.35

⬤ Simple Interest (S.I) = 317.22 - 264.35 = 52.87

⬤ Simple Interest (S.I) = Rs 52.87

➻ Rate = (100 × S.I)/(P × T)

➻ Rate = (100 × 52.87)/(264.35 × 4)

➻ Rate = (5287)/((1057.4)

➻ Rate = 5%

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S. I = (P × R× T)/100

Rate = (100 × S.I)/(P × T)

Amount = P + S.I

Time = (100 × S.I)/(P × R)

Principal = 100×Amount/100+(R×T)

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Answer 2

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ANSWER:-

Rate of interest will be 5%

GIVEN:-

Principal = Rs. 264.35

Time = 4 years

Amount = Rs 317.22

TO FIND:-

Rate of interest = ?

FORMULA:-

Rate = (100 × S.I)/(P × T)

SOLVING BY APPLYING THE FORMULA:-

⬤ Simple Interest (S.I) = Amount - Principal

⬤ Simple Interest (S.I) = 317.22 - 264.35

⬤ Simple Interest (S.I) = 317.22 - 264.35 = 52.87

⬤ Simple Interest (S.I) = Rs 52.87

➻ Rate = (100 × S.I)/(P × T)

➻ Rate = (100 × 52.87)/(264.35 × 4)

➻ Rate = (5287)/((1057.4)

➻ Rate = 5%

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✠MoreInformation✠

S. I = (P × R× T)/100

Rate = (100 × S.I)/(P × T)

Amount = P + S.I

Time = (100 × S.I)/(P × R)

Principal = 100×Amount/100+(R×T)

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