Question

cnirupal=25,000 c rupees Amount 31000rupees Time 4years Rate of Interest​

Answer 1

Correct Question

If the principle is 25000 and the amount paid is 32000. The time took is 4 years. Then, find the rate of interest?

Answer

Given :

Principle : ₹25000

Total Amount : ₹31000

Time : 4 years

To find :

The rate of interest of the loan or investment.

Solution :

First, we should find the simple interest.

Simple interest :

$\sf \dashrightarrow Total \: Amount - Principle$

$\sf \dashrightarrow 31000 - 25000$

$\sf \dashrightarrow Rs.6000$

Now, we can find the rate of interest.

Rate of interest :

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

$\sf \dashrightarrow 6000 = \dfrac{25000 \times R \times 4}{100}$

$\sf \dashrightarrow 6000 = \dfrac{100000 \times R}{100}$

$\sf \dashrightarrow 6000 = \dfrac{100000R}{100}$

$\sf \dashrightarrow R = \dfrac{6000 \times 100}{100000}$

$\sf \dashrightarrow R = \dfrac{6 \times 100}{100}$

$\sf \dashrightarrow R = \dfrac{600}{100}$

$\sf \dashrightarrow R = 6\%$

Hence, the rate of interest is 6%.