Question

sandeep borrowed rupees 3000 for 4 yrs and rupees 8000 for 2.5 yrs from sonia at the same rate of interest . the total interest earned by sonia is rupees 2880. find the rate of interest ....... . ​

Answer 1

Answer:

Solution :-

Let the rate of interest be x %

Scenario 1 -

Principal = Rs. 3000

Time = 4 years

S.I. = (P*R*T)/100

⇒ (3000*x*4)/100

= Rs. 120x

So, simple interest in 1st scenario is Rs. 120x

Scenario 2 -

Principal = Rs. 8000

Time = 2.5 years or 2 1/2 years

= 5/2 years

S.I. = (P*R*T)/100

⇒ (8000*x*5)/2*100)

= Rs. 200x

So, simple interest in 2nd scenario is Rs. 200x

Total interest paid by Sandeep = 120x + 200x

= Rs. 320x

Total interest earned by Sonia = Rs. 2880

∴ 320x = 2880

⇒ x = 2880/320

⇒ x = 9 %

So, the rate of interest is 9% per annum.

Answer.