Question

Raman deposited Rs 7600 in a bank. He withdrew Rs 3000 after 2 years. At the end of 7 years he received an amount of Rs 7656. Find the rate of interest ?​

Answer 1

Rate of interest is 7.0196 %.

Step-by-step explanation:

Given:

Money deposit, Principal = Rs 7600  

Time ofr interest = 2 years

We know that               ⇒  $S.I = \frac{P \times R \times T }{100}$

So,                                ⇒  $S.I = \frac{7600\times R\times 2}{100}$

                             

 After 2 years, he withdraw Rs 3000. So, new principal is '$P_{2}$'.

End of year is 7 years. So, 5 years are there after new principal and for new simple interest.

Now, new simple interest,             ⇒  $SI_{2} = \frac{P_{2} \times R\times 5}{100}$

Now, ammount is A = Rs 7656

                                                  ⇒   A = $P_{2} + SI_{2}$

                                                  ⇒   7656 = $P_{2} + SI_{2}$

Now according to question,

                                        ⇒ $P_{2} = 7600 + SI - 3000$

                                         ⇒  $P_{2} = 4600 + SI$

From above,                       ⇒ 3056 = $SI + SI_{2}$

       

From above                     ⇒ $\frac{R}{100}\times (7600\times 2 + 5P_{2}) = 3056$   ......    (1)

                                          ⇒ $P_{2} = 4600 + \frac{(7600\times R\times 2)}{100}$

                                               

Putting above equation in equation (1),

                                          ⇒ $\frac{R}{100} [7600\times 2 + 5\frac{( 4600 + 7600\times R\times 2)}{100}] = 3056$

After solving above,                R = 7.0196 %.

Answer 2

$\huge\underline\mathfrak\pink{Question-}$

Raman deposited 7600 in a bank. He withdrew  3000 after 2 years. At the end of 7 years, her  an amount of 7656. Find the rate of interest.​

$\huge\underline\bold\red{SolutiOn-}$

Let rate of interest = x%  

Then for two years interest = 152 x

Total rupees=7600+152 x

Withdrew amount=3000

Then remaining  = 4600+152 x

Thus the rate of interest is 4600+152 x.

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