Question

mr. raghava has deposited Rs 8000 with a finance company for a period of 1 year . the company credits the interest quarterly. he received back Rs 9724.05 after one year . find the rate of interest percent per annum. sir please

Answer 1

Deposited money p = ₹8000


time = 1yr , rate = ?


after 1 year:
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amount received = ₹9724.05


interest credited in 1 yr


= amount - principal


= 9724.05 - 8000 = 1724.05


Interest = (p × r × t)/ 100


1724.05 = (8000 × r × 1 ) / 100


r = 1724.05 ÷ 80 = 21.5% per annum


Answer:
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rate of interest per annum = 21.5 %

Answer 2

$si = p \times r \times t \div 100 \\ 1724.05 = 8000 \times r \times 1 \div 100 \\\ 1724.05 = \frac{8000r}{100 } \\ 1724.05 = 80r \\ r = \frac{1724.05}{80} \\ r = 21.55\%$