Thursday 30 March 2017

SIMPLE INTEREST 1

Asad deposited the amount of 200,000/= in a bank for 3 years and got a profit of 72000/=. Find the interest rate?

Solution

I = 72000/=, P = 200,000/=, T = 3 years, R = ?

I  = PRT
      100

72,000  = 200,000 x R x 3
                      100

72,000  = 200,000 x R x 3
                      100

72,000  = 2000 x R x 3
                     
72,000  = 6000R
          
1272,000  = 6000R
   6000       6000

Hence the interest rate was 12%

TRY THIS…………………..


Sonali deposited the amount of 300,000/= in a bank for 6 years and got a profit of 27,000/=. Find the interest rate?

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