Question

Please explain me step by step. ​

Answer 1

Answer:

Rate of interest is 2.5%.

Step-by-step explanation:

Since we have given that

Let P be the principal .

Amount = \dfrac{17}{16}P

16

17

P

Simple interest = P-\dfrac{17}{16}P=\dfrac{1}{16}PP−

16

17

P=

16

1

P

Time = 2 years and 6 months = 2\dfrac{1}{2}=\dfrac{5}{2}2

2

1

=

2

5

So, it becomes,

\begin{gathered}S.I=\dfrac{P\times R\times T}{100}\\\\\dfrac{1}{16}P=\dfrac{P\times R\times 5}{200}\\\\\dfrac{40}{16}=R\\\\R=2.5\%\end{gathered}

S.I=

100

P×R×T

16

1

P=

200

P×R×5

16

40

=R

R=2.5%

Hence, Rate of interest is 2.5%.