Question

The simple interest eamed on a certain sum in 5 years is 30% of the sum. Find the rate of interest​

Answer 1

Sᴏʟᴜᴛɪᴏɴ :-

Let the sum (P) = Rs. 100

S.I. = $\large\sf\frac{30}{100}$ × Rs. 100

= Rs. 30

Period (T) = 5 years

Thus,

Rate = $\large\sf\frac{S.I. × 100}{P × T}$

= $\large\sf\frac{30 × 100}{100 × 5}$

= 6%

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Answer 2

Answer:

Let the sum (P) = Rs. 100

S.I. = \large\sf\frac{30}{100}10030 × Rs. 100

= Rs. 30

Period (T) = 5 years

Thus,

Rate = \large\sf\frac{S.I. × 100}{P × T}P×TS.I.×100

= \large\sf\frac{30 × 100}{100 × 5}100×530×100

= 6%