Question

What rate gives Rs 300 as interest on a sum of Rs 60,000 in 2 years?​

Answer 1

Answer: We have,

P=Rs.60000,

T=2years,

SI=Rs.300

We know that,

SI=  

100

P×R×T

​  

 

300=  

100

60000×R×2

​  

 

R=  

2×560

280

​  

 

R=0.25%

Hence, the value of the rate is 0.25%.

Step-by-step explanation:

Answer 2

Given : ↴

$\sf \: SI \: = \: Rs. 300$

$\sf \: Principal \: = \: Rs. 60,000$

$\sf \: Time \: = \: 2 \: years$

To find : ↴

$\sf \: We \: have \: to \: find \: the \: rate \: of \: Interest.$

So, Let's Start : ↴

$\sf \: \longrightarrow \: Simple \: Interest : \: \cfrac{P \times R \times T }{100}$

$\sf \: \longrightarrow \: 300 \: : \: \cfrac{60000 \times R \times 2}{100}$

$\sf \longrightarrow \: Rate \: of \: Interest\: = \cfrac{300 \: \times \: 100 }{60000 \: \times \: 2}$

$\sf \longrightarrow \: Rate \: of \: Interest\: = \cfrac{3 \not0\not0 \: \times \: 1\not0\not0 }{6\not0\not0\not0\not0 \: \times \: 2}$

$\sf \longrightarrow \: Rate \: of \: Interest\: = \cfrac{3 \: \times \: 1 }{6 \: \times \: 2}$

$\sf \longrightarrow \: Rate \: of \: Interest\: = \cfrac{1 \: \times \: 1 }{2 \: \times \: 2}$

$\sf \longrightarrow \: Rate \: of \: Interest\: \:is \: \: \cfrac{1 \: \times \: 1 }{2 \: \times \: 2} \: = \: \cfrac{1}{4} \:$

$\sf \longrightarrow \: Rate \: of \: Interest\: is \: \: \: \cfrac{1}{4} \: \: = \: 0.25$

$\sf Hence,\: the\: rate \: of \: interest\: on\: sum\: is \: 0.25%.$