Question

calculate the rate at which #30000 will yield interest of #75000 in 2years

Answer 1

Solution :-

Given

•Principle Amount :- 30000

•Amount after 2 years :- 75000

•Time :- 2 years

Now as

Amount = Simple Intrest + Principle Amount

=> SI = Amount - Principle Amount

=> SI = 75000 - 30000

=> SI = 45000

Now as

$SI = \dfrac{P \times R \times T}{100}$

$\implies 45000 = \dfrac{30000 \times R \times 2 }{100}$

$\implies 45000 = 300 \times 2R$

$\implies R = \dfrac{45000}{600}$

$\implies R = 75$

So Rate = 75%