Arya borrows rupees 6000 from a bank at SI. After 4 years she paid Rs ...
Answer – c) 3.85% Explanation : Total interest she paid = 6000*(r/100)*4 + 3500*(r/100)*1 = 275r total interest = 2500 + 4560 – 6000 = 1060 so 1060 = 275r, r = 3.85% approx
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Arya borrows rupees 6000 from a bank at SI. After 4 years she paid Rs ...
Given:
- Arya borrows Rs 6000 from a bank at simple interest.
- After 4 years, she paid Rs 2500 to the bank.
- At the end of 5 years from the date of borrowing, she paid Rs 4560 to settle the account.
To find:
The rate of interest (approx.)
Solution:
Let's assume the rate of interest as 'r' percent.
After 4 years, Arya paid Rs 2500 to the bank, which means she still has to pay Rs (6000 - 2500) = Rs 3500.
After 5 years, she paid Rs 4560 to the bank, which means the interest for the last year is Rs (4560 - 3500) = Rs 1060.
Calculating the rate of interest:
We can use the formula for simple interest: SI = (P * R * T) / 100
Where:
SI = Simple Interest
P = Principal amount (borrowed amount)
R = Rate of interest
T = Time period (in years)
For the first 4 years:
SI = (6000 * r * 4) / 100
For the last year:
SI = (3500 * r * 1) / 100
Total SI = SI for the first 4 years + SI for the last year = (6000 * r * 4) / 100 + (3500 * r * 1) / 100
According to the given information, the total SI is Rs 1060.
So, we can write the equation as:
(6000 * r * 4) / 100 + (3500 * r * 1) / 100 = 1060
Simplifying the equation:
(24r + 3.5r) = 1060
27.5r = 1060
r = 1060 / 27.5
Calculating the value of 'r' using a calculator:
r ≈ 38.545
Approximating the rate of interest:
The rate of interest is approximately 38.545%.
Matching the options:
a) 3.25%
b) 3.50%
c) 3.85%
d) 4%
e) None of these
Since none of the options match the calculated rate of interest (approximately 38.545%), the correct answer is None of these.