Question

if rupees5000 becomeRupees 6,000 in 2 years what is the rate of interest per annum​

Answer 1

Step-by-step explanation:

Given Question:-

if rupees5000 becomeRupees 6,000 in 2 years what is the rate of interest per annum.

Solution:-

Given sum =Principle =(P)=Rs.5000

Amount after two years=(A)=Rs.6000

Time (T)=2 years

Interest (I)=Amount -Principle

=>I=6000-5000=1000

Simple Interest (SI)=Rs.1000

we know that

I=PTR/100

=>1000=5000×2×R/100

=>1000=10000R/100

=>1000=100R

=>100R=1000

=>R=1000/100

=>R=10

Therefore,R=10%

Answer:-

Rate of interest for the given problem is 10%