Question

class 7 maths set 41 if the interest on 1700 rupees is 340 rupees for 2 years the rate of interest must be -----------​

Answer 1

Answer:

10%

Step-by-step explanation:

In this question, we have been asked to find the rate of interest applied on Rs. 1700 for 2 years, such that the interest becomes Rs. 340. To solve this question, we should know that the simple interest is calculated by, I=P×R×T100, where I represents the interest obtained over the principal amount, P represents the principal amount on which the interest is applied, R represents the rate of interest and T represents the time for which the interest is applied

So, let us consider the rate of interest as R. Therefore, we can say that according to the question, we have P = Rs. 1700, I = Rs. 340 and T = 2 years. So, we can write the formula of simple interest as follows.

340=1700×R×2100

Now, we will keep the variable R on one side and rest all terms on the other side. So, we get,

R=340×1001700×2

Now, on further simplification, we get,

R=10

Hence, we can say that the rate of interest is 10% on Rs. 1700 for 2 years to obtain the interest of Rs. 340.

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Answer 2

Answer:

The rate of interest is 10 %

Step-by-step explanation:

Given:

Principal ( P )= Rs. 1700

Simple Interest = RS. 340

Time = 2 yrs.

As we know ,

Simple Interest = ( P ×r × t) /100      ( where r is the rate of interest)

             r = (S.I × 100 ) / ( P × t)

                = (340 × 100 ) / ( 1700 × 2)

                = (34000 /3400) = 10 %