Question

At what rate percent per annum will the simple interest on Rs 15000 be Rs 3000 in ? 2 1/2 years

Answer 1

Answer:

Rate=8%

Step-by-step explanation:

Step 1: Write the given terms

Principal (p)=Rs15000

Rate(r)=?

Time(t)=2 1/2=5/2=2.5

Interest(i)=Rs3000

Step 2: Write the formula for calculating Simple interest

$i = \frac{p \times r \times t}{100}$

Step 3: Make Rate(r) the subject of the equation in Step 2

$by \: cross \: multiplcation \\ 100i = prt \\ divide \: both \: sides \: by \: pt \: to \: have \\ \frac{100i}{pt} = r$

Step 4: Use the new equation for r to get the rate by substitution

$r = \frac{100i}{pt} \\ r = \frac{100 \times 3000}{15000 \times 2.5} \\ r = \frac{300000}{37500} \\ r = 8$

Hence, the rate of the simple interest is 8%