Question

principal = 25000 rupess ,Amount =31,000 rupess ,Time =4 years ,what is the rate of interest​

Answer 1

$\large\sf\red{Answer↷}$

Given:

• principal (p) = ₹ 25,000
• Amount ( A ) = ₹ 31,000
• Time ( T) = 4 years

To find :

• Rate of interest

As we know that :

➜ Amount = principal + simple interest

➜ A = P + S.I

➜ 31000 = 25000+ S.I

➜ S.I = 31000 -25000

➜S.I = ₹ 6000

Hence,

• Simple interest is Rs 6000 .

Now,

$\sf{➜Simple\:interest = \frac{p \times r \times t}{100} }$

$\sf{➜6000 = \frac{25000 \times r \times 4}{100}}$

$\sf{➜6000 = 250 \times r \times 4}$

$\sf{➜6000 = 1000 \times r}$

$\sf{➜r = \frac{6000}{1000} } \\ \sf{➜r = 6\%}$

Therefore,

• Rate of interset on simple interest is 6% .

Answer 2

➤ Given :-

Principle :- ₹25000

Total Amount :- ₹31000

Time :- 4 years

$\:$

➤ To Find :-

The rate of interest applied to the loan.

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★ How to do :-

Here, we are given with the principle amount, the total amount and the time taken to return the money back. We are asked to find the rate of interest being applied to the loan. So, first we should find the simple interest by subtracting the total amount and the principle. The obtained answer will be the simple interest. Then, we can find the rate of interest by using the formula given while solving the problem. So, let's solve!!

$\:$

➤ Solution :-

First, find the simple interest.

Simple Interest :-

${\tt \leadsto \underline{\boxed{\tt Total \: Amount - Principle}}}$

Substitute the given values.

${\tt \leadsto 31000 - 25000}$

Subtract the values to get the answer.

${\tt \leadsto Rs \: \: 6000}$

$\:$

Now, find the rate of interest by using the formula given below.

Rate of interest :-

${\tt \leadsto \underline{\boxed{\tt \dfrac{SI \times 100}{P \times T}}}}$

Substitute the given values.

${\tt \leadsto \dfrac{6000 \times 100}{25000 \times 4}}$

Cancel the zeros in numerator and denominator.

${\tt \leadsto \dfrac{6 \cancel{000} \times 100}{25 \cancel{000} \times 4} = \dfrac{6 \times 100}{25 \times 4}}$

Multiply the remaining numerators and denominators.

${\tt \leadsto \dfrac{6 \times 100}{25 \times 4} = \dfrac{600}{100}}$

Write the obtained fraction in lowest form by cancellation method to get the final answer.

${\tt \leadsto \cancel \dfrac{600}{100} = \pink{\underline{\boxed{\tt 6 \bf\%}}}}$

$\Huge\therefore$ The rate of interest applied to the loan is 6%.

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$\dashrightarrow$ Some related formulas :-

$\small\boxed{\begin{array}{cc}\large\sf\dag \: {\underline{More \: Formulae}} \\ \\ \bigstar \: \sf{Simple \: Interest :- \dfrac{P \times R \times T}{100}} \\ \\ \bigstar \: \sf{Principle :- \dfrac{SI \times 100}{R \times T}} \\ \\ \bigstar \: \sf{Time :- \dfrac{SI \times 100}{P \times R}}\end{array}}$