Tuesday 7 February 2017

SIMPLE INTEREST 1A


Aakash deposited the amount of 20,000/= in a bank for 4 years and got a profit of 7200/=. Find the interest rate?

Solution

I = 7200/=, P = 20,000/=, T = 4 years, R = ?

I  = PRT
      100

7200  = 20,000 x R x 4
                      100

7200  = 20,000 x R x 4
                      100

7200  = 200 x R x 4
                     
7200  = 800R
          
97200  = 800R
   800     800

Hence the interest rate was 9%

TRY THIS…………………..


Kinjal deposited the amount of 20,000/= in a bank for 6 years and got a profit of 6000/=. Find the interest rate?

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