Question

What is the rate of interest of a sum 10000 amount to 15000 in 5 years

Answer 1

Answer:

99.99%

Step-by-step explanation:

Given :A sum of money amounts to rs 10000 after 5 years and rs 15000 after 8 years at the same rate of simple interest.

To Find :  find the rate of interest

Solution:

Amount after 5 years = Rs.10000

Amount after 8 years = Rs.15000

So, Simple interest for 3 years = Rs.15000-Rs.10000 =Rs.5000

So, Simple interest in 1 year =

So,  Simple interest in 5 years=

                                                =

Amount after 5 years = Rs.10000

Simple interest in 5 years= 8333.333

Principal = Amount - Interest

             =Rs.10000-Rs. 8333.333

             =Rs.1666.667

So,

Hence the rate of interest is 99.99%