Question

The difference between the simple interest for 3 years and 5 years on Rs.20000 is Rs.2000. What is the ratevof interest

Answer 1

5 percent is the right answer of this question

Answer 2

Given :

• Difference between the Simple interest for 3 years and 5 years on Rs. 20000 is Rs. 2000

• Principal ( P) = Rs. 20000

• t₁ = 3 yrs ; t₂ = 5 yrs

• Difference between the Simple interest yielded for 3 yrs and 5 yrs = Rs. 2000

To find :

• Rate of Interest, R =?

Solution :

Using Formula for Simple interest

$\implies \boxed{\rm{S.I.=\dfrac{P\times R\times t }{100}}}$

$\implies\rm{S.I.\:for\:5\;yrs - S.I.\;for\;3\;yrs= 2000}$

$\implies\rm{\dfrac{P\times R\times t_2}{100}-\dfrac{P \times R\times t_1}{100}= 2000}$

$\implies\rm{\dfrac{P\times R\times t_2-(P\times R\times t_1)}{100}}$

$\implies\rm{\dfrac{P\times R( t_2-t_1)}{100}= 2000}$

$\implies\rm{P\times R( t_2-t_1)= 2000\times 100}$

$\implies\rm{20000\times R( 5-3)= 200000}$

$\implies\rm{20000\times 2 R = 200000}$

$\implies\rm{2 R = \dfrac{200000}{20000}}$

$\implies\rm{2 R = 10}$

$\implies\rm {R = \dfrac{10}{2}}$

$\implies\boxed{\boxed{\rm{R = 5\;\;\%}}}$