Question

What is the rate of interest if ₹3,750 amounts to ₹4,650 in 4 years?
Plz explain the problem with a full solution

Answer 1

Answer:

Rate of interest= 6%

Step-by-step explanation:

P= Rs. 3750

A = Rs. 4650

T = 4 years

R = ?

SI = ?

First of all we have to calculate the Simple Interest

so, A = P+SI

Rs . 4650 = Rs. 3750 + SI

SI = Rs. 4650 - Rs. 3750 = Rs. 900

Now ,

$si = \frac{p \times r \times t}{100} \\ 900 = \frac{3750 \times r \times 4}{100} \\ r \: = \frac{900 \times 100}{3750 \times 4} \\ r = 6\%$

Hope you got it.

Thank you

Answer 2

Answer:

⠀⠀⠀⌬ Amount = Rs. 4650

⠀⠀⠀⌬ Principal = Rs. 3750

⠀⠀⠀⌬ Time = 4 years

⠀⠀⠀⌬ Rate of Interest = ?

⠀

Interest received in 4 years is (Rs. 4650 - Rs. 3750) = Rs. 900, We can see that Interest is very low in 4 years, hence it must be Simple Interest.

$\underline{\bigstar\:\textsf{According to the given Question :}}$

$:\implies\sf Simple\:Interest=\dfrac{Principal \times Rate \times Time}{100}\\\\\\:\implies\sf Amount-Principal=\dfrac{Principal \times Rate \times Time}{100}\\\\\\:\implies\sf 4650 - 3750 = \dfrac{3750 \times Rate \times 4}{100}\\\\\\:\implies\sf 900 = \dfrac{3750 \times Rate}{25}\\\\\\:\implies\sf 900 = 150 \times Rate\\\\\\:\implies\sf \dfrac{900}{150} = Rate\\\\\\:\implies\sf Rate =6\% \:p.a.$

⠀

$\therefore\:\underline{\textsf{Hence, the rate of interest is \textbf{6\% p.a.}}}$