Question

find the rate of interest which ₹90000 will amount ₹115600 in
2 year?

full explaination
don't write irrelevant answer​

Answer 1

Answer:

Given:

Principal (P) = 90000

Amount(A) = 115600

Time (T) = 2 years

To Find:  

The rate of interest at which Rs 90,000 will amount to Rs 1,15,600 in 2 years .

Solution:

If the principal amount, rate of interest, and time period is mentioned, simple interest is calculated by the formula:

Simple Interest (SI) = Amount (A) - Principal (P)  

                                 = (115600 - 90000) = 25600  

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

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

R = $\dfrac{115600 \times 100}{90000 \times 2}$

⇒ R = 14.23%

 

Hence, the rate of interest at which Rs 90,000 will amount to Rs 1,15,600 in 2 years is 14.23%.

Answer 2

➤ Given :-

Principle :- ₹90000

Total amount :- ₹115600

Time :- 2 years

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➤ To Find :-

Rate of interest of the given sum.

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➤ Formula required :-

${\tt \large \dashrightarrow \orange{\boxed{\tt \gray{\dfrac{SI \times 100}{P \times T}}}}}$

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★ How to do :-

Here, we are given with total amount, principle and the time taken to return the money back. We should find the rate of interest applied to this sum. We can use the formula given above to find that. But, we are not provided with simple interest which is necessary in formula. To find that, we can subtract the total amount and the principle so that the simple interest can be found. Later, we can find the rate of interest using the formula.

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➤ Solution :-

Simple Interest :-

${\tt \leadsto 115600 - 90000}$

${\tt \leadsto Rs \: \: 25600}$

Now,

Rate of interest :-

${\tt \leadsto \dfrac{25600 \times 100}{90000 \times 2}}$

${\tt \leadsto \dfrac{25600 \times \cancel{100}}{\cancel{90000} \times 2} = \dfrac{25600 \times 1}{900 \times 2}}$

${\tt \leadsto \dfrac{\cancel{25600} \times 1}{\cancel{900} \times 2} = \dfrac{256 \times 1}{9 \times 2}}$

${\tt \leadsto \dfrac{ \cancel{256} \times 1}{9 \times \cancel{2}} = \dfrac{128 \times 1}{9 \times 1}}$

${\tt \leadsto \cancel \dfrac{128}{9} = \boxed{\tt 14.2 \bf\%}}$

$\Huge\therefore$ The rate of interest of the given sum is 14.2%.

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$\dashrightarrow$ Some related formulas :-

${\sf \to Simple \: Interest = \dfrac{P \times r \times t}{100}}$

${\sf \to Principle = \dfrac{SI \times 100}{R \times T}}$

${\sf \to Time = \dfrac{SI \times 100}{P \times R}}$