Question

rs 600 is earned as interest of RS 2500 for three years. find the rate of interest​

Answer 1

Rate of interest​ IS 8 %

Step-by-step explanation:

Given,

Principal, p = 2500

Simple interest, = 600

Time , t = 3 years

By using the formula of simple interest,

$SI = \frac{p\times r\times t}{100}$

$600 = \frac{2500\times r\times 3}{100}$

or,

r = $\frac{100\times 600}{2500\times 3}$

r = $\frac{60000}{7500}$

r = 8 %

Answer 2

The rate of interest​ is 8%

Step-by-step explanation:

The formula for simple interest is given by

$SI=prt$

Here, SI - simple interest, p = principle amount, t = time and r = rate in decimal.

Given that

SI = Rs 600

p = Rs 2500

t = 3 years

Substituting these values in the above formula

$600=2500\cdot r\cdot3$

Multiply 2500 with 3

$600=7500r$

Divide both sides by 7500

$r=\frac{600}{7500}\\\\r=0.08$

Therefore, interest rate is given by

r = 0.08 × 100

r = 8%

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