Question

Jabbar invested certain money and got back an amount of pkr 8500. If the markup given was 3000 after 1 year 5 months, find the rate per annum. In solution write time as 17/12 and don't convert time into decimal.​

Answer 1

Answer:

The rate per annum for Jabbar's investment is approximately 38.66%

Step-by-step explanation:

Given:

• Jabbar invested a certain amount of money.
• He got back PKR 8500 after the investment period.
• The markup (profit) was PKR 3000.
• The investment period was 1 year and 5 months.

To find the rate per annum, we need to use the formula:

Rate = (Markup / Cost Price) × (12 / Time in months) × 100

Steps:

1. Find the cost price (the amount Jabbar invested initially).

  Cost Price = Total Amount - Markup

  Cost Price = 8500 - 3000 = 5500

2. Convert the time to months.

  1 year 5 months = 12 months + 5 months = 17 months

  Time = 17/12 years

3. Apply the formula to calculate the rate per annum.

  Rate = (Markup / Cost Price) × (12 / Time in months) × 100

  Rate = (3000 / 5500) × (12 / (17/12)) × 100

  Rate = (3000 / 5500) × (12 × 12 / 17) × 100

  Rate ≈ 38.66%

Related topics:

Simple Interest - https://brainly.com/question/25793394

Markup and Margin - https://brainly.com/question/13248184

Percentage - https://brainly.com/question/24304697