Question

if the interest on a sum of rupees 500 is equal to rupees 500 in ten years. What is the rate of interest?
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Answer 1

Answer:I think so t will be 0 as no increase in the amount of money

Step-by-step explanation:

Answer 2

The simple rate of interest is 10%.

Step-by-step explanation:

Given information:

Principal = Rs. 500

Interest = Rs. 500

Time = 10 years

Formula for simple interest:

$I=\dfrac{P\times r\times t}{100}$

where, P is principal, r is rate of interest, t is time in years.

$500=\dfrac{500\times r\times 10}{100}$

$500=50r$

Divide both sides by 50.

$\dfrac{500}{50}=r$

$10=r$

Therefore, the simple rate of interest is 10%.

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If the interest on a sum of rupees 500 is equal to rupees 500 in ten years. What is the rate of interest?​

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