Bill Gates borrows $7000 from Zuckerberg at the rate of r% per annum.

1.	Bill Gates borrows $7000 from Zuckerberg at the rate of r% per annum. After 3 years he again borrows $3000 and paid a total of $5325 as simple interest after 8 years from the first time he borrowed the money. Find the value of ‘r’?1). 5.5%2). 9.5%3). 7.5%4). 12.5%
Answer» Total interest = interest on 7000 for 3 years + interest on 10000 for 5 years According to the question, ⇒ (7000 × R × 3)/100 + (10000 × r × 5)/100 = 5325 ⇒ (210 × r) + (500 × r) = 5325 ⇒ 710 × r = 5325 Required RATE of interest ‘r’ = 7.5%

Bill Gates borrows $7000 from Zuckerberg at the rate of r% per annum. After 3 years he again borrows $3000 and paid a total of $5325 as simple interest after 8 years from the first time he borrowed the money. Find the value of ‘r’?1). 5.5%2). 9.5%3). 7.5%4). 12.5%

Answer»

Total interest = interest on 7000 for 3 years + interest on 10000 for 5 years

According to the question,

⇒ (7000 × R × 3)/100 + (10000 × r × 5)/100 = 5325

⇒ (210 × r) + (500 × r) = 5325

⇒ 710 × r = 5325

Required RATE of interest ‘r’ = 7.5%

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Bill Gates borrows $7000 from Zuckerberg at the rate of r% per annum. After 3 years he again borrows $3000 and paid a total of $5325 as simple interest after 8 years from the first time he borrowed the money. Find the value of ‘r’?1). 5.5%2). 9.5%3). 7.5%4). 12.5%

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