A sum amounts to ₹6,600 in 2 years and ₹7,200 in 4 years at simple interest. What is the rate of interest per annum?
A sum amounts to ₹6,600 in 2 years and ₹7,200 in 4 years at simple interest. What is the rate of interest per annum?
एक धनराशि साधारण ब्याज पर 2 वर्ष में ₹6,600 तथा 4 वर्ष में ₹7, 200 हो जाती है। प्रति वर्ष ब्याज दर क्या है?
Detailed Solution & Logic
Correct Answer:
5 %
Solution:
Interest for 2 years =7200 - 6600 = ₹600
$ \text{Interest for 1 year}= \dfrac{600}{2}=₹300 $
$ \text{Principal}=6600-(2\times300)=₹6000 $
$ \text{Rate}=\dfrac{SI\times100}{P\times T} $
$ =\dfrac{300\times100}{6000\times1} $
=5%
Answer: 5%
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