Question

Prashu borrowed ₹55000 from Axis bank of India to purchase a BMW car for her boyfriend. She returned amount of ₹ 60200 after 4 years. Find the rate of interest and interest and interest.​

Answer 1

$\large\color{pink}{ \tt{Solution:-}}$

$\begin{gathered} \bold{Prashu \: borrowed \: ↬ \: Rs.55000} \\ \end{gathered}$

$\begin{gathered} \bold{prashu \: returned\:after\: 4\:years\:↬ \: Rs.60200} \\ \end{gathered}$

$\large\color{cyan}{ \tt{5200÷4}}$

$\small\purple{\boxed{\tt{\colorbox{yellow}{Rs.1300}}}}\:$

∴She will pay 1300 Rs. each year.

Answer 2

Answer:

Step-by-step explanation:

Prashu borrowed ₹55000

Time = 4 years

Amount re-payed = ₹ 60200

Simple Interest = Amount - Principle

                         = 60200 - 55000

                         = 5200

Let the rate be x

Simple Interest = PRT/100

              5200  = (55000 * x * 4)/100

              5200  = (220000x)/100

         520000  = 220000x

                      x = 520000/220000

                      x = 2.36%

Hence, the interest is Rs. 5200 and rate of interest is 2.36%