Question

Ramesh borrowed 16000Rs from bank for 3 years. He
I returned 2080ors to the bank after 3yrs. Find the
rate of interest of bank​

Answer 1

AnswEr:-

Rate of interest = 10%

$\rule{200}{1}$

Correct question:-

Ramesh borrowed Rs.16000 from bank for 3 years.He returned Rs.20800 to the bank after 3 years.Find the rate of interest of bank.

Given:-

• Principal (P) = Rs.16000
• Time(n) = 3 years.
• Total amount = Rs.20800

To find:-

• Rate of interest = ?

Solution:-

Here,

⇒ Total amount = Principal + SI

⇒ 20800 = 16000 + SI

⇒ SI = 20800 - 16000

⇒ SI = Rs.4800

As we know formula for Simple interest:-

☛ ${\boxed{\rm{\blue{Simple \: interest = \dfrac{P \times r \times n}{100} }}}}$

• Putting all values:-

$\dashrightarrow\sf 4800 = \dfrac{16000 \times r \times 3}{100}\\\\\dashrightarrow\sf 4800 = 160 \times 3r \\\\\dashrightarrow\sf 3r = 4800/160 \\\\\dashrightarrow\sf 3r = 30 \\\\\dashrightarrow\sf r = 30/3 \\\\\dashrightarrow{\underline{\boxed{\textsf{\textbf{r = 10\% }}}}}\\\\\\\therefore\underline{\textsf{Rate of interest = {\textbf{10\% }}}}$

$\rule{150}{1}$

More formulas related to it:-

⇒ Amount = P(1 + r)ⁿ

⇒ CI = Amount - Principal

⇒ CI = P(1 + r)ⁿ - P

Answer 2

$\huge {\red {\mathfrak {Correct\:Question:-}}}$

• Ramesh borrowed Rs 16000 from bank for 3 years. He returned Rs 20800 to the bank after 3 years. Find the rate of interest of bank.

$\huge {\pink {\mathfrak {Solution:-}}}$

$\underline{\bold {Given:}}$

• Principal (P) =Rs 16000
• Time (T) = 3 years
• Amount(A)= Rs 20800

$\underline{\bold {To\:Find:}}$

• The rate of interest of bank.(R)

$\bigstar{\boxed {\red{\tt{SI=A-P}}}}\bigstar$

$:\implies {\sf{SI=A-P}}$

$:\implies {\sf{SI = Rs \: (20800 - 16000)}}$

$:\implies {\sf{SI=Rs \:4800}}$

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We obtained :

• SI=Rs 4800
• P=Rs 16000
• T=3 years

We have to find:

• The rate of interest of bank (R).

$\bigstar{\boxed {\red {\tt{R= (\dfrac{SI \times 100}{P\times T})\%}}}}\bigstar$

$:\implies {\sf{R= (\dfrac{SI \times 100}{P\times T})\%}}$

$:\implies {\sf{R= (\dfrac{4800 \times 100}{16000 \times 3})\%}}$

$:\implies {\underline{\boxed{\sf{ R=10\%}}}}$

$\therefore{\underline{\green{\tt{The\:rate\:of\:interest\:of\:bank\:is\:10\%.}}}}$

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