Sia invested rupees 3600 and rupees 4800 at the same rate of interest, for 1 year and received rupees 40 more in one case than in the other. Find the rate of interest.
Answers
Calculation of rate of interest
Answer: Rate of interest is 3.3333%.
Explanation:
Given that Sia invested Rs 3600 and Rs 4800 at the same rate of interest.
Amounts invested for the duration of 1 year.
Sia recieves rupees 40 more in once case that other .
Need to find the rate of interest
lets assume the rate of interest in percentage = y% P.A
As rate of interest is same in both the investments
so amount earned by investing 3600 in 1 year at rate of interest y% P.A
= y% of 3600 = (y/100) x 3600 = 36y
And amount earned by investing 4800 in 1 year at rate of interest y% P.A
= y% of 4800= (y/100) x 4800= 48y
rate of interest will be more in case of 4800 that 3600 because amount is more in first case and rate of interest is same that is y%.
And As amount recived is 40 more in once case that other , means diffrence of interest earned is Rs 40
=> 48y - 36y = 40
=> 12y = 40
=> y = 40/12 = 3.3333
Hence Rate of interest is 3.3333%
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Answer:
4800 ÷ 3600 = 3.3333%
refer to above attachment
