Question

ram and rahim borrowed ₹16000 and ₹12500 respectively at the same rate of simple interest for 3 years if ram paid ₹1890 more interest than rahim find the rate of interest per annum​

Answer 1

Answer:

18%

Step-by-step explanation:

Algebra is being used.

Answer 2

Answer:

The rate of interest per annum​ is 18%

Step-by-step explanation:

Given : Ram borrowed P₁ = 16000 Rs

           Rahim borrowed P₂ = 12500 Rs

           Period T = 3 years

           I₁ = I₂ + 1890 Rs

           R₁ = R₂ = R = ?

Solution : Simple interest I = P x T x R/100

i ) Ram I₁ = P₁ x T₁ x R₁/100

              = 16000 x 3 x R /100

              = 480R

         R = I₁/480 -----------1

ii) Rahim I₂ = P₂ x T₂ x R₂/100

                 = 12500 x 3 x R/100

                 = 375R

            R = I₂/375 ------------2

Equating 1 & 2, we get

           I₁/480 = I₂/375  

      (I₂ + 1890)/480 = I₂/375       ∵ I₁ = I₂ + 1890 Rs

     (I₂ + 1890)x 375 = I₂ x 480

        1890 x 375 = I₂ x (480 - 375 )

                   I2 = 6750 Rs -----------3

Substituting 3 in 2, we get

                     R = I₂/375

                        = 6750/375

                        = 18 %