Question

Q3. What rate gives ₹ 200 as interest on a sum of ₹ 5,000 in 2 years?​

Answer 1

Answer:

Rate (R) is 2%.

Step-by-step explanation:

Given:

• Interest, I = ₹ 200
• Principle, P = ₹ 5,000
• Time, T = 2 years
• Rate, R = ?

To Find:

• The rate (R) = ?

Formula used:

$\quad {\pink{\bigstar}}\large{\underline{\boxed{\bf I = \dfrac{P \times R \times T}{100}}}}$

Solution:

Using the formula,

$\implies \sf I = \dfrac{P \times R \times T}{100}$

Put the given values,

$\implies \sf 200 = \dfrac{5000 \times R \times 2}{100}$

$\implies \sf 200 = \dfrac{\cancel{5000} \times R \times 2}{\cancel{100}}$

$\implies \sf 200 = 50R \times 2$

$\implies \sf 200 = 100R$

$\implies \sf R = \dfrac{200}{100}$

$\implies \sf R = 2$

Hence, Rate (R) is 2%.