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If the simple interest on 1400 for three years is less than the simple interest on 1800for the same period by 80 rsThen the rate of interest is –?
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If the simple interest on 1400 for three years is less than the simple...
Given:
- Principal amount (P1) = Rs. 1400
- Principal amount (P2) = Rs. 1800
- Time (T) = 3 years
- Difference in interest (I2 - I1) = Rs. 80
To find:
- Rate of interest (R)
Formula:
The formula to calculate simple interest is:
I = (P * R * T) / 100
Step 1: Calculate the interest for the first principal amount:
I1 = (P1 * R * T) / 100
Step 2: Calculate the interest for the second principal amount:
I2 = (P2 * R * T) / 100
Step 3: Calculate the difference in interest:
Difference in interest = I2 - I1
Step 4: Substitute the given values into the equation:
80 = [(1800 * R * 3) / 100] - [(1400 * R * 3) / 100]
Step 5: Simplify the equation:
80 = (5400R - 4200R) / 100
80 = 1200R / 100
80 * 100 = 1200R
8000 = 1200R
Step 6: Solve for R:
R = 8000 / 1200
R = 6.67%
Conclusion:
The rate of interest is 6.67%.
- Principal amount (P1) = Rs. 1400
- Principal amount (P2) = Rs. 1800
- Time (T) = 3 years
- Difference in interest (I2 - I1) = Rs. 80
To find:
- Rate of interest (R)
Formula:
The formula to calculate simple interest is:
I = (P * R * T) / 100
Step 1: Calculate the interest for the first principal amount:
I1 = (P1 * R * T) / 100
Step 2: Calculate the interest for the second principal amount:
I2 = (P2 * R * T) / 100
Step 3: Calculate the difference in interest:
Difference in interest = I2 - I1
Step 4: Substitute the given values into the equation:
80 = [(1800 * R * 3) / 100] - [(1400 * R * 3) / 100]
Step 5: Simplify the equation:
80 = (5400R - 4200R) / 100
80 = 1200R / 100
80 * 100 = 1200R
8000 = 1200R
Step 6: Solve for R:
R = 8000 / 1200
R = 6.67%
Conclusion:
The rate of interest is 6.67%.
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If the simple interest on 1400 for three years is less than the simple interest on 1800for the same period by 80 rsThen the rate of interest is –?
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If the simple interest on 1400 for three years is less than the simple interest on 1800for the same period by 80 rsThen the rate of interest is –? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about If the simple interest on 1400 for three years is less than the simple interest on 1800for the same period by 80 rsThen the rate of interest is –? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If the simple interest on 1400 for three years is less than the simple interest on 1800for the same period by 80 rsThen the rate of interest is –?.
If the simple interest on 1400 for three years is less than the simple interest on 1800for the same period by 80 rsThen the rate of interest is –? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about If the simple interest on 1400 for three years is less than the simple interest on 1800for the same period by 80 rsThen the rate of interest is –? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If the simple interest on 1400 for three years is less than the simple interest on 1800for the same period by 80 rsThen the rate of interest is –?.
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