Question

Rahul borrowed rupees 50000 from a bank on 1 March 2014 and paid rupees 53150 on 6 October 2014. Find the rate of interest charged by the bank.​

Answer 1

rate of interest charged by the bank = 10.5 %  if 50000 borrowed on 1 Mar 2014 Returned as 53150 on 6 Oct 2014.

Step-by-step explanation:

1 March to 6 October number of Days = 30 + 30 + 31 + 30 +31 + 31 + 30 + 6

= 219 Day

= (219/365)

= 0.6 Years

Rahul borrowed rupees 50000

paid rupees 53150

=> Interest Paid = 53150 - 50000 = Rs 3150

Simple interest = P * R * T /100

=> 3150 = 50000 * R  * 0.6 /100

=> R = 10.5 %

rate of interest charged by the bank = 10.5 %

Learn More :

Find the simple interest on Rs. 306.25 from March 3rd to July 27th

https://brainly.in/question/6000074

https://brainly.in/question/12225728