Question

The total amount of 14,500 with simple interest in 6 y years is Rs 21,460 find out the rete of interest per annum.
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Answer 1

Answer:

8%

Step-by-step explanation:

Amount=21460

Principle=14500

Time=6 years

SI=a-p

21460-14500

6960

t=SIx100/PxR

6960x100/14500x6

696000/87000

8%

Answer 2

Answer:

The rate of interest is $8\%pa$.

Step-by-step explanation:

In simple interest we have the equation

$I=PNR/100$

where I is the interest

P is the principal

N number of year

and R rate of interest.

Here,

$P=14500\\N=6\\I=21460-14500=6960$

We have to find R, so

$6960=14500*6*R/100$

⇒

$6960*100/14500*6=6960/145*6$

                                $=1160/145\\\\=8$

Therefore the rate of interest is $8\%$.

Hence the answer

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