Question

If ashu pays an interest of Rs 1080 for 9 months on the sum of Rs 18000 find rate of interest​

Answer 1

Answer:

8%

Step-by-step explanation:

• I= (P n r) /100
• p=principal
• n=time per annum
• r= rate of interest

n is in month so convert it into years so we get n= 9/12 = 3/4

putting all values in formula

1080=(18000 x 3/4 x r) /100

r = (1080 x 100 x 4 )/(3 x 18000)

r = 8%

Answer 2

Answer:

The rate of interest for the given sum of amount is 8 % .

Step-by-step explanation:

Given as :

The interest paid by Ashu  = I = Rs 1080

The time period = t = 9 months = $\dfrac{9}{12}$ year

The principal sum = p = Rs 18000

Let The rate of interest = r%

From Simple Interest method

Simple Interest = $\dfrac{principal\times rate\times time}{100}$

Or, I =  $\dfrac{p\times r\times t}{100}$

Or, Rs 1080 = $\dfrac{18000\times r\times 0.75}{100}$

Or, 1080 × 100  = 13500× r

Or, 108000 =  13500 × r

∴  r = $\dfrac{108000}{13500}$

i.e r = 8 %

Hence, The rate of interest for the given sum of amount is 8 % .Answer