If a sum amounts to ₹12,900 at the end of the 4th year and ₹14,250 at the end of the 5th year at simple interest, what is the rate of interest?
If a sum amounts to ₹12,900 at the end of the 4th year and ₹14,250 at the end of the 5th year at simple interest, what is the rate of interest?
यदि एक राशि साधारण ब्याज की एक निश्चित दर से चौथे वर्ष और पांचवें वर्ष के अंत में क्रमशः ₹12900 और ₹14250 हो जाती है, तो ब्याज की दर है:
Detailed Solution & Logic
Correct Answer:
18%
In simple interest, the increase in amount per year is constant.
Amount at end of 5th year = ₹14,250
Amount at end of 4th year = ₹12,900
Interest for 1 year = ₹14,250 − ₹12,900 = ₹1,350
So, yearly interest = ₹1,350
Interest for 4 years = $4 \times 1350 = 5400$
Principal:
$P = 12900 - 5400 = 7500$
Now, rate:
$r = \frac{100 \times 1350}{7500} = 18%$
So, the rate of interest is 18% per annum.
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