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A sum of money amount to $l0000 after years5and & 15000 after 8at theyearsat the same rate ofinterest find the rate of interestper annum |
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Answer» 99.99%Given :A SUM of money amounts to rs 10000 after 5 years and rs 15000 after 8 years at the same RATE of simple interest.To FIND : find the rate of interestSolution:Amount after 5 years = Rs.10000Amount after 8 years = Rs.15000So, Simple interest for 3 years = Rs.15000-Rs.10000 =Rs.5000So, Simple interest in 1 year = So, Simple interest in 5 years= = Amount after 5 years = Rs.10000Simple interest in 5 years= 8333.333Principal = Amount - Interest =Rs.10000-Rs. 8333.333 =Rs.1666.667So, Hence the rate of interest is 99.99% |
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