Question

shyam borrowed Rs 8000 on simple interest and after 3year he paid Rs 1440 more than principal. The annual rate of interest is:​

Answer 1

Interest amount on loan = PRT

SO to find R = interest amount on loan ÷ (PT)

                    = 1440 ÷ ( 8000 × 3)

             = 0.06

             = 6% was the Rate

( Note : P = Principal amount, R = Rate % T = Time period[in years] )

plz mark brainliest

Answer 2

Answer:

The annual rate of interest = 6%

Step-by-step explanation:

Given,

Amount borrowed = Rs. 8000

Time = 3 years

Amount paid after 3 years = 1440 + principal

To find

The rate of interest

Solution:

Recall the formula

Amount = Principal +simple interest ------------(1)

Simple interest = $\frac{PTR}{100}$, where P, is the principal,  T is the time period and R is the rate of interest

Since the amount paid after three years, is 1440 more than the principal

A = P + 1440

From equation (1) we have Simple interest  after 3 years = 1440

$\frac{PTR}{100} = 1440$

We have, principal  p = 8000

Time = T = 3

By substituting these values we get

$\frac{8000X3XR}{100} = 1440$

8000×3×R = 144000

$R = \frac{144000}{8000X3}$

R = 6 %

∴The annual rate of interest = 6%

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