The rate of interest which will yield Rs 50 as interest on Rs 500 in one year is
Answers
Step-by-step explanation:
SI = P × r × t
100
50 = 500 × r × 1
100
r = 10% per annum
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Step-by-step explanation:
We know that the formula to find the simple interest is given by :-
I=\dfrac{P \times R\times T}{100}I=
100
P×R×T
, where P= principal amount
R = rate of interest
T=time
As per given , we have
P= Rs 500
I = Rs 50
r= 5% per annum
Substitute all the values in the above formula , we will get
50=\dfrac{500 \times 5\times T}{100}50=
100
500×5×T
\begin{gathered}\Rightarrow\ 50=25\times T\\\\\Rightarrow\ T=\dfrac{50}{25}=2\end{gathered}
⇒ 50=25×T
⇒ T=
25
50
=2
Hence, it will take 2 years.
# Learn more :
Calculate simple interest on ₹10000 at 20% for 5 years.
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