Question

find the rate of simple interest if the interest on Rs 1000 for 5 years amounts to Rs 300​

Answer 1

Answer:

Given :

Principal = Rs.1000

Time = 5

Simple interest = Rs.300

To Find :

Find the rate of simple interest

Solution:

Principal = Rs.1000

Time = 5 years

Simple interest = Rs.30o

Formula :

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

300=\frac{1000 \times 5 \times R}{100}300=1001000×5×R

30000=5000 \times R30000=5000×R

\frac{30000}{5000}=R500030000=R

6\%=R6%=R

Hence The rate of interest is 6%

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