Question

Rate of interest at the rate of 2.50 ruppess per 100 rupees for a month

Answer 1

Answer:

30% per Annum

30% per Annum2.5 % per month

Step-by-step explanation:

We need to find rate of interest

when Rs 2.5 interest is received on a

Amount of Rs 100 per month

P = 100

Rate of interest = 30% per Annum

R = Rate of interest per Annum

R = Rate of interest per AnnumT = time = 1 Month = 1/12 Year

R = Rate of interest per AnnumT = time = 1 Month = 1/12 YearSimple Interest = 2.5

Simple interest = P * R * T /100

Simple interest = P * R * T /1002.5 = 100 * R * (1/12) /100

Simple interest = P * R * T /1002.5 = 100 * R * (1/12) /100=> R = 2.5 * 12

Simple interest = P * R * T /1002.5 = 100 * R * (1/12) /100=> R = 2.5 * 12=> R = 30

Rate of interest = 30% per Annum

if rate of interest = R % per month

if rate of interest = R % per monththen T = 1 month

if rate of interest = R % per monththen T = 1 month2.5 = 100 * R * 1/100

if rate of interest = R % per monththen T = 1 month2.5 = 100 * R * 1/100=> R = 2.5

if rate of interest = R % per monththen T = 1 month2.5 = 100 * R * 1/100=> R = 2.52.5 % per month

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