mark ant petter borrowed rupees 2250 and rupees2500, respectively at the same rate of simple interest for 3 years, petter paid rupees 45 more as interest than what mark paid, find the rate of interest per annum.
Answers
Answered by
5
Answer:
6 per cent per year
Step-by-step explanation:
Mark
P = amount borrowed = Rs.2250
R = rate of interest per cent per year
T = time period in years = 3
SI = Simple Interest = (P*R*T)/100
SI paid by Mark = (2250*R*3)/100
Peter
P = amount borrowed = Rs.2500
R = rate of interest per cent per year
T = time period in years = 3
SI = Simple Interest = (P*R*T)/100
SI paid by Peter = (2500*R*3)/100
Given: Peter paid Rs.45 more as SI than Mark
=> SI of Peter = SI of Mark + 45
=> (2500*R*3)/100 = (2250*R*3)/100 + 45
=> (25*R*3) = (22.5*R*3) + 45
=> 75R = 67.5R + 45
=> 7.5R = 45
=> R = 6
The rate of interest is 6 per cent per year
Similar questions