Question

Mr. Gupta took a loan of rupees 133225 from a bank for a period of 160 days. at the end of the stipulated days he returned an amount of rupees 136145 to the bank.calculate the rate of the interest

Answer 1

Dear Mate,

Given : Mr. Gupta took a loan of Rs 1,33,225 from a bank for a period of 160 days. At the end of the stipulated days, he returned an amount of 1,36,145 to the bank .

a) The interest paid by Mr. Gupta = 136145 - 133225 = Rs .2920 ( Ans )

b) Time = 160 days = 160365 = 3273 ( Years )

And we know formula for simple interest = P × r × t100 , Then,

133225 × r × 3273100 =2920⇒1825 × r × 32100 =2920⇒r =2920×1001825 × 32⇒r =29200058400⇒r =5

Therefore,

Rate of interest = 5 % ( Ans )

he had to give rs 2920 interest.