Question

Shanthi deposited 6000 in a bank and received 7500 at the end of 5 years. Find the rate of interest.

Answer 1

P*R*T/1000=F

6000*R*5/1000=7500

30000*R=7500000

R=25%

Answer 2

Answer :-

Given :-

Deposited Amount ( Principal ) = 6,000

Received Amount ( Amount ) = 7,500

Time period = 5 years

Required to find :-

• Rate of interest

Formulae used :-

$\boxed{\mathsf{ Interest = Amount - Principal }}$

$\boxed{\mathsf{ Interest = \dfrac{ P \times T \times R }{100}}}$

Where,

P = principal

R = Rate of Interest

T = Time period

Solution :-

Given ,

Amount deposited ( principal ) = 6,000

Amount received ( Amount ) = 7,500

So,

Using the formula ,

$\boxed{\mathsf{ Interest = Amount - Principal }}$

Interest = 7,500 - 6,000

Interest = 1,500

However,

Time period = 5 years .

So,

Let the ,

Rate of interest be " x " %

So,

Using the formula ,

$\boxed{\mathsf{ Interest = \dfrac{ P \times T \times R }{100}}}$

So,

Substitute the values in it .

$\longrightarrow{\tt{ Interest = \dfrac{ 6000 \times 5 \times x }{100}}}$

$\longrightarrow{\tt{ Interest = 60 \times 5 \times x }}$

$\longrightarrow{\tt{Interest = 300x }}$

From the above,

we came to know the value of interest .

So, substitute the value in it .

Hence,

$\longrightarrow{\tt{ 1500 = 300x }}$

$\longrightarrow{\tt{ 300x = 1500 }}$

$\Rightarrow{\tt{ x = \dfrac{1500}{300}}}$

$\implies{\orange{\tt{ x = 5 \% }}}$

$\boxed{\red{\therefore{\mathsf{ Rate \; of \; Interest = 5 \% }}}}{\blue{\bigstar}}$