Question

At what Rs.rate a sum of Rs.5400 amount to 6345 in 2.5 years?

Answer 1

Rate = 7%

Step-by-step explanation:

GIVEN

Principal = ₹5400

Amount = ₹6345

Time = 2.5 years

___________________________

TO FIND

Rate

___________________________

We know that,

Simple Interest = Amount - Principal

Simple Interest = 6345 - 5400

Simple Interest = 945

Simple Interest = ₹945

___________________________

We know that,

Rate = ( Interest × 100 ) / ( Principal × Time )

Rate = ( 945 × 100 ) / ( 5400 × 2.5 )

Rate = 94500 / 13500

Rate = 7

Rate = 7%

Answer 2

$\huge \sf \underline \red{Answer : }$

$\sf{ \boxed{ \boxed{ \underline{ \underline{ \purple{ \tt{Rate = 7\%} \: }}}}}}$

$\huge \sf \underline \blue{To \: find : }$

• Rate

$\huge \sf \underline \pink{solution : }$

$\sf {Given}\begin{cases}&\sf{Principal = \sf{5400}} \\ \\ &\sf{ Amount= \sf{6345}} \\ \\ &\sf{ Time= \sf{2.5\:years.}}\end{cases}$

$\star \: \sf \underline{we \: know \: that : }$

$\: \: \: \: \sf{ \boxed{ \underline{ \underline{ \red{ \tt{simple \: interest = Amount - Principal \: }}}}}}$

• Amount = 6345

• principal = 5400

$\: \: \: \: \: \: \: \: \: \: \: \sf⇢{SI = 6345 - 5400}$

$\: \: \: \: \: \: \: \: \: \: \: \sf⇢{SI = 945}$

$\sf \underline{ \therefore \: simple \: interest = 945}$

$\star \: \sf \underline{Now\: we \: have \: to \: find \: rate}$

$\sf{ \boxed{ \underline{ \underline{ \red{ \tt{Rate = \dfrac{ (Interest \times 100)}{(principal \times Time)} \: }}}}}}$

• Interest = 945

• principal = 5400

• Time = 2.5

$\: \: \: \: \: \: \: \: \: \: \: \: \sf⇢{Rate = \dfrac{945 \times 100}{5400 \times 2.5}}$

$\: \: \: \: \: \: \: \: \: \: \: \: \sf⇢{Rate = \dfrac{94500}{13500}}$

$\: \: \: \: \: \: \: \: \: \: \: \: \sf⇢{Rate = 7}$

$\sf \underline{ \therefore \sf{Rate = 7\%}}$