Question

Sathish kumar borrowed ₹ 52,000 from a money lender at a particular rate of

simple interest. After 4 years, he paid ₹ 79,040 to settle his debt. At what rate of

interest, he borrowed the money?​

Answer 1

Answer:

13%

Step-by-step explanation:

79040-52000 = 52000×4×R/100

27040 = 520×4×R

R = 27040/520×4

= 6760/520

= 13%

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Answer 2

The rate which he borrowed the money is $13$%.

Step-by-step explanation:

Given data:

The amount borrowed$=52000$₹

the time taken to settle the debt$=4 years$

The amount he paid to settle the debt$=79,040$₹

To find:

We must find the rate at which he borrowed the money from the lender.

Formula to be used:

Simple interest$=P$×$R$×$T$

$P=52000$ (Principal amount)

$R=$rate

$T= 4$ years (time)

Solution:

Using the formula:  simple interest $=P$×$R$×$T$ we can find the rate

$79,040-52000=(52000$×$4$×$R$)$/100$

$27,040=208,000$×$R$$/100$

$2080R=27,040$

$R=27,040/2080$

$R=13$%

The rate at which Satish Kumar borrowed the money from the lender is $13%$%

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