Advertisements
Advertisements
Question
The simple interest on a certain sum of money is `3/8` of the sum in `6 1/4` years. Find the rate percent charged.
Advertisements
Solution 1
Let P = Rs.8
S.I. = Rs.`3/8xx8`
= Rs.3
T =`6 1/4` years = `25/4` years
We know that :
R =`(100xx"I")/("P"xx"T")`
`=(100xx3)/(8xx25/4)=(100xx3)/8xx4/25=2xx3`
= 6%
Solution 2
Given:
- Simple interest is `3/8` of the sum,
- Time (T) = `6 1/4` = 6.25 years,
- Formula for simple interest:
`SI = (P.R.T)/100`
Step 1: Represent simple interest in terms of the principal
`SI = 3/8.P`
Substitute SI into the formula:
`3/8.P = (P.R.T)/100`
Step 2: Cancel P (since P≠0) and solve for R:
`3/8 = (Rxx6.25)/100`
Rearrange
`R = (3/8 xx100)/6.25`
Step 3: Simplify:
`R = (3xx100)/(8xx6.25)=300/50=6`
= 6
APPEARS IN
RELATED QUESTIONS
What rate gives ₹ 280 as interest on a sum of ₹ 56,000 in 2 years?
Find the principal which will amount to Rs. 4,000 in 4 years at 6.25% Per annum.
In what time will ₹ 17800 amount to ₹ 19936 at 6% per annum?
Which among the following is the simple interest for the principle of ₹ 1,000 for one year at the rate of 10% interest per annum?
A sum of ₹ 46,900 was lent out at simple interest and at the end of 2 years, the total amount was ₹ 53,466. Find the rate of interest per year
Amount received on ₹ 3000 for 2 years at the rate of 11% per annum is ______.
Rajni and Mohini deposited ₹ 3000 and ₹ 4000 in a company at the rate of 10% per annum for 3 years and `2 1/2` years respectively. The difference of the amounts received by them will be ______.
Amount obtained by depositing ₹ 20,000 at 8% per annum for six months is ______.
Interest = `(P xx R xx T)/100`, where T is ______ R% is ______ and P is ______.
Divide ₹ 10000 in two parts so that the simple interest on the first part for 4 years at 12 per cent per annum may be equal to the simple interest on the second part for 4.5 years at 16 per cent per annum.
