Maths-
General
Easy

Question

At what rate percent per annum, simple interest will be Rs. 3600 amount to Rs. 4734 in 3 ½ years?

Hint:

Find simple interest from total and principal amount given and then find the rate of interest.

The correct answer is: 9%.


    Complete step by step solution:
    We know the formula for total amount = A = P + SI…(i)
    where A is the total amount, P is the principal amount and SI is simple interest.
    Here, we have A = 4734 Rs and P = 3600 Rs
    On substituting the known values in (i), we get SI = 4734 - 3600 = 1134
    So, we have SI = 1134 Rs
    We calculate simple interest by the formula,S I equals fraction numerator P T R over denominator 100 end fraction…(ii)
    where P is Principal amount, T is number of years and R is rate of interest
    Here, we have SI = 1134,P = 3600 ,T = 3.5 and R = ?
    On substituting the known values in (ii), we get 1134 equals fraction numerator 3600 cross times 3.5 cross times R over denominator 100 end fraction
    table attributes columnalign right left right left right left right left right left right left columnspacing 0em 2em 0em 2em 0em 2em 0em 2em 0em 2em 0em end attributes row cell not stretchy rightwards double arrow R equals fraction numerator 1134 cross times 100 over denominator 3600 cross times 3.5 end fraction end cell row cell not stretchy rightwards double arrow R equals 113400 over 12600 equals 9 straight percent sign end cell end table
    Hence the rate of interest R is 9%.
    At 9% per annum, simple interest will be Rs 3600 amount to Rs 4734 in 3.5 years.

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