Question

ramana borrows rs.7000 from a bank at simple interest .after 3 years he paid rs.3000 towards principal amount borrowed.at tge end of 5 years from the date of borrowing,he paid rs.5450 to the bank to settle the account.then the rate of interest he paid is

Answer 1

Answer:

Step-by-step explanation:

ramana borrows rs.7000 from a bank at simple interest .after 3 years he paid rs.3000 towards principal amount borrowed.at the end of 5 years from the date of borrowing,he paid rs.5450 to the bank to settle the account.then the rate of interest he paid is

We know S.I = P x R x T / 100

P = Rs 7000

Amount = 3000 + 5450 = 8450

We know that interest = A - P

             I = 8450 - 7000

           I = Rs 1450

 and time = 5 yrs

I = P x R x T / 100

R = 100 x I / P T

   = 100 x 1450 / 7000 x 5

  = 145000 / 35000

R = 4.142 %

Rate of interest is 4.142%

Answer 2

Answer:

Ans : R = 5%

Step-by-step explanation:

P = Rs.7000

A = Rs.8450 (3000+5450)

I = Rs.1450 ( A - P )

5 yrs - 3 yrs =( 7000 - 3000 )

2 yrs = 4000

1450 = 7000 × r × 3 + 4000 × r × 2

1450 = 210 r + 80 r

r = 1450 ÷ 290

R = 5 %