Question

The sum of rupees 48000 was lent out at simple interest and at the end of 2 years and 3 months. Total amount was rupees 55560. Find the rate of interest per year

Answer 1

Answer:

7

Explanation:

ब्याज= 55560-48000=7560

समय=2साल 3माह=27माह

then

साधारण ब्याज={मू×द×स}/100

7560= (48000*द*27)/1200

9072000=1296000*दर

दर=9072000/1296000

दर=7

Answer 2

The rate of interest per year is 7%

Explanation:

As we know that

Amount = Principal + Simple interest

where,

Amount = Rs. 55560

Principal = Rs. 48000

So, the simple interest is

= Rs. 55560 - Rs 48000

=  Rs. 7560

Now we applied the simple interest formula that is shown below:

Simple interest = Principal × rate of interest × time period

where,

Simple interest = Rs. 7560

Principal = Rs 48000

Time period = 2 years and 3 months = 9 ÷ 4

Now put the values

Rs. 7560 = Rs 48000 × rate of interest × 9 ÷ 4

After solving this, the rate of interest is 7%

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