Question

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

Answer 1

Answer: 10%

Step-by-step explanation:

`Assuming this is simple interest,

P = 500

T = 10

SI = 500

$\frac{PTR}{100}$ = SI

$\frac{500 x 10 x R}{100}$ = 500

$\frac{R}{10}$ = 1

R = 10%

Answer 2

The rate of interest is 10%.

Step-by-step explanation:

Since we have given that

Principal = Rs. 500

Simple interest = Rs. 500

Time = 10 years

So, we need to find the rate of interest:

$S.I=\dfrac{P\times R\times T}{100}\\\\500=\dfrac{500\times 10\times R}{100}\\\\R=10\%$

Hence, the 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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