Question

Find the rate percent per annum when a principal of rs. 5000 /- earns a s.I of rs. 1600 in 16 months

Answer 1

Step-by-step explanation:

time=16 months= 16/12= 4/3 year

we know,

$si = \frac{p \times r \times t}{100} \\ r = \frac{si \times 100}{p \times t} \\ = \frac{1600 \times 100}{5000 \times \frac{4}{3} } \\ = \frac{1600 \times 100 \times 3}{5000 \times 4 } \\ = \frac{16 \times 100 \times 3}{50 \times 4} \\ = 4 \times 2 \times 3 \\ = 24\% p.a$

Answer 2

The rate of interest is 24%

Step-by-step explanation:

Principal = Rs.5000

Time = 16 months =$\frac{16}{12} years$

Simple interest = 1600

Formula : $SI = \frac{P \times T \times R}{100}$

$1600=\frac{5000 \times \frac{16}{12} \times R}{100}\\\frac{1600 \times 100}{5000\times \frac{16}{12}}=R\\24=R$

Hence The rate of interest is 24%

#Learn more:

Find the time in which the principal of rs 5000 will earn simple interest of rs 1800 at the rate of 6% per annum​

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