Question

Find the rate of simple interest if
the interest on 1000 for 5 years amounts to 300.​

Answer 1

Answer:

Principal = Rs.1000

Time = 5 years

Simple interest = Rs.300

To Find :

Find the rate of simple interest

Solution:

Principal = Rs.1000

Time = 5 years

Simple interest = Rs.300

Formula :

SI=\frac{P \times T \times R}{100}SI=

100

P×T×R

300=\frac{1000 \times 5 \times R}{100}300=

100

1000×5×R

30000=5000 \times R30000=5000×R

\frac{30000}{5000}=R

5000

30000

=R

6\%=R6%=R

Answer 2

Answer:

6%

Step-by-step explanation:

Simple Interest = P*R*T/100

P=1000

R=?

T=5y

=> 1000 * R * 5/100 = 300

10*R*5=300

50R=300

R=300/5

=> R=6%