Question

find the rate of interest if amount owed after 6 month is rs.1050. borrowed amount being rs 1000

Answer 1

Principle = rs 1000
Amount = rs 1050
Time = 6 months = 6/12 years =1/2 years
Therefore, S.I = amount - principle
=1050 - 1000
=50
So,rate = S.I x 100/time x principle
=50 x 100 x 2/1 x 1000
=10%
So,rate = 10%
Hope it helps..!!!

Answer 2

$\textbf{\underline{\underline{Answer :-}}}$

The Rate of interest is 10%

$\textbf{\underline{\underline{Explanation :-}}}$

Given :

Time = 6 months

Amount = Rs.1050

Money borrowed = Rs.1000

To find :

The Rate of interest

Solution :

Principal (P) = Rs.1000

Amount = Rs.1050

Time (T) = 6 months (½)

Simple Interest = Amount - Principal

→ 1050 - 1000

→ 50

Simple Interest = Rs.50

$\star$As we know =

$\boxed{\sf{SI = \frac{Principal \times Rate \times Time}{100} }}$

$\sf{\implies}50 = \dfrac{1000 \times R \times \frac{1}{2}}{100}$

$\sf{\implies}50 \times 100 = 1000 \times R \times \frac{1}{2}$

$\sf{\implies}5000 = 500 \times r$

$\sf{\implies}R = \dfrac{5000}{500}$

$\sf{\implies}R = 10$

${\boxed{\bigstar{\sf\:{Rate\% = 10\%}}}}$

$\therefore$The Rate of interest is 10%

$\textbf{\underline{\underline{Verification :-}}}$

$\sf{\implies}50 = \dfrac{1000 \times 10 \times \frac{1}{2}}{100}$

$\sf{\implies}50 = \dfrac{1000 \times 5}{100}$

$\sf{\implies}50 = \dfrac{50{\cancel{00}}}{1{\cancel{00}}}$

$\sf{\implies}50 = 50$

When we placed the value of R (10) we got the correct Simple Interest (50).

$\therefore$The Rate of interest is 10%