Question

If Rs.5.000 amounts to Rs.6,200 at s. i. in 4
years, find the rate of interest. ​

Answer 1

Given that

• Principal=Rs.5000
• Amount=Rs.6200
• Time=4 year's

To Find

• Rate

Formula used

$\pink{ \bf{SI= Amount-principal }}$

Putting the Value in formula we get

$\sf \: SI= 6200-5000$

$\: \sf{SI=Rs.1200}$

Now we know that

$\\\implies \sf \: SI= \dfrac{Principal×Rate×time}{100}$

$\implies \sf \: 1200= \dfrac{5000×Rate×4}{100}$

$\sf \implies\: {Rate} = \dfrac{1200 \times 100}{5000 \times 4}$

$\sf\implies \: {Rate} = \dfrac{12 }{2 }$

$\sf \implies\: {Rate} = 6\%$