Question

If Manohar pays an interest of Rs.630 for 2 years on a sum of Rs.4500, find the rate of

interest.​

Answer 1

☯ $\frak{\red{Given:}} \sf {\orange{\;Interest \; paid \; is \; Rs.630 \; for \; 2 \; years.}}$

☯ $\frak{\red{To\;Find:}} \sf {\orange{The \;rate \; of\; interest}}$

☞ Interest σf 2 yeαrs = 630 Rs.

☞ Interest of 1 yeαrs = $\sf \cancel \dfrac{630}{2}$ = 315

☞ Interest = x% of principle αmount

                   = $\sf \dfrac{45\cancel 0 \cancel 0 \times x}{1\cancel 0 \cancel 0} =45x$

☞ 45x = 315

☞ $\sf x = \cancel \dfrac{315}{45} = \cancel \dfrac{63}{9} = 7$

∴ The rate of interest is 7%

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Answer 2

*Refer the attachment.