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In certain sum 1400 becomes 1848 at 8%per annum simple interest . when 2100 will become 2604 at the same time , the rate of interest is?
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In certain sum 1400 becomes 1848 at 8%per annum simple interest . when...
Understanding the Problem
To find the rate of interest when 2100 becomes 2604, we first need to analyze the given information about the initial sum of 1400.
Step 1: Calculate the Time Period
- The initial sum of 1400 grows to 1848 at an 8% per annum simple interest.
- The growth amount can be calculated as:
Growth = Final Amount - Principal = 1848 - 1400 = 448
- Using the simple interest formula:
Interest (I) = Principal (P) × Rate (R) × Time (T)
- Here, the interest is 448, the principal is 1400, and the rate is 8% (or 0.08).
- Rearranging the formula to find Time (T):
T = I / (P × R) = 448 / (1400 × 0.08) = 4 years
Step 2: Calculate the Rate of Interest for the Second Scenario
- Now, we know 2100 needs to grow to 2604 in the same 4 years.
- Calculating the growth amount for the second case:
Growth = 2604 - 2100 = 504
- Using the simple interest formula again:
504 = 2100 × R × 4
- Rearranging to find R:
R = 504 / (2100 × 4) = 0.06 or 6%
Conclusion
- Therefore, the rate of interest for the second sum of money is 6% per annum.
To find the rate of interest when 2100 becomes 2604, we first need to analyze the given information about the initial sum of 1400.
Step 1: Calculate the Time Period
- The initial sum of 1400 grows to 1848 at an 8% per annum simple interest.
- The growth amount can be calculated as:
Growth = Final Amount - Principal = 1848 - 1400 = 448
- Using the simple interest formula:
Interest (I) = Principal (P) × Rate (R) × Time (T)
- Here, the interest is 448, the principal is 1400, and the rate is 8% (or 0.08).
- Rearranging the formula to find Time (T):
T = I / (P × R) = 448 / (1400 × 0.08) = 4 years
Step 2: Calculate the Rate of Interest for the Second Scenario
- Now, we know 2100 needs to grow to 2604 in the same 4 years.
- Calculating the growth amount for the second case:
Growth = 2604 - 2100 = 504
- Using the simple interest formula again:
504 = 2100 × R × 4
- Rearranging to find R:
R = 504 / (2100 × 4) = 0.06 or 6%
Conclusion
- Therefore, the rate of interest for the second sum of money is 6% per annum.
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In certain sum 1400 becomes 1848 at 8%per annum simple interest . when 2100 will become 2604 at the same time , the rate of interest is?
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In certain sum 1400 becomes 1848 at 8%per annum simple interest . when 2100 will become 2604 at the same time , the rate of interest is? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about In certain sum 1400 becomes 1848 at 8%per annum simple interest . when 2100 will become 2604 at the same time , the rate of interest is? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In certain sum 1400 becomes 1848 at 8%per annum simple interest . when 2100 will become 2604 at the same time , the rate of interest is?.
In certain sum 1400 becomes 1848 at 8%per annum simple interest . when 2100 will become 2604 at the same time , the rate of interest is? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about In certain sum 1400 becomes 1848 at 8%per annum simple interest . when 2100 will become 2604 at the same time , the rate of interest is? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In certain sum 1400 becomes 1848 at 8%per annum simple interest . when 2100 will become 2604 at the same time , the rate of interest is?.
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