Question

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

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Answer 1

Given:-

• The simple interest earned on a certain sum in 5 years is 30% of the sum.

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To find:-

• The rate of interest.

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Solution:-

★ In this question we have given that the simple interest earned on a certain sum in 5 years is 30% of the sum. We have to find out the rate of interest. Let's do it.

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Let,

• Let the sum (P) = Rs.100

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According to the question,

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Firstly,

• finding the Simple interest.

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⇢ SI = 30/100 × Rs.100

⇢ SI = Rs.30

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Hence,

• The simple interest is Rs.30.

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Now,

• finding the rate of interest.

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⇢ SI × 100/P × T

⇢ 30 × 100/100 × 5

⇢ 6%

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Hence,

• The rate of interest is 6%.

Answer 2

$\huge\bf\fbox\red{Answer:-}$

Let the sum = (P)

= ₹ 100

S.I. = (30/100) × ₹ 100

= ₹ 30

Period (T)

= 5 Years

∴ Rate = (S.I. × 100)/(P × T)

= (30 × 100)/(100 × 5)

= 6%

Final Answer

Rate of Interest = 6%.