Question

Pranav took a loan of $1800 with a rate of simple interest that was 3 times the time period in years. At the end of the time period, Pranav paid a total interest of $216. What was the time period and rate of interest per annum?

Answer 1

P = 1800$

T = 3R

SI = 216$

SI = (P*T*R)/100

216 = (1800*3R*R)/100

216 = 18 * 3R * R

216/18 = 3*R^2

12 = 3* R^2

4 = R^2

R = SQRT(4)

R = 2%

T = 3R

T = 3*2

T = 6 YEARS

Rate of interest per annum = 2%

Time period = 6 years.

Answer 2

Concept Introduction:-

It might resemble a word or a number representation of the quantity's arithmetic value.

Given:-

We have been given that Pranav took a loan of $\ 1800$ with a rate of simple interest that was $3$ times the time period in years. At the end of the time period, Pranav paid a total interest of $\ 216$.

To Find:-

We have to find that the time period and rate of interest per annum.

Solution:-

According to the problem

$P =\ 1800\\T =3R\\SI =\ 216\\\\SI = (P\times T\times R)/100\\216 = (1800\times 3R\times R)/100\\216 = 18 \times 3R \times R\\216/18 = 3\times R^2\\12 = 3\times R^2\\4 = R^2\\R = \sqrt{4}\\R = 2\%$

$T = 3R\\T = 3\times 2\\T = 6 YEARS$

Rate of interest per annum $2\%$

Time period $= 6$ years.

Final Answer:-

The correct answer is Rate of interest per annum is $2\%$ and time period is  $6$ years.

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