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An amount of money at certain rate of simple interest per annum becomes 2400 in 4 years and 2500in5 years . find the rate of interest p.a?
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An amount of money at certain rate of simple interest per annum become...
Understanding the Problem
To find the rate of simple interest per annum, we can analyze the information given:
- The amount becomes 2400 in 4 years.
- The amount becomes 2500 in 5 years.
Calculating the Interest Earned
We can calculate the interest earned in the 5th year:
- Total amount after 5 years: 2500
- Total amount after 4 years: 2400
The interest earned in the 5th year is:
- Interest for 1 year = 2500 - 2400 = 100
Calculating Total Interest for 4 Years
Since the interest for 1 year is 100, the total interest earned in 4 years is:
- Total Interest in 4 years = 4 * Interest for 1 year = 4 * 100 = 400
Finding the Principal Amount
Now, we can find the principal amount (P):
- Amount after 4 years = Principal + Total Interest in 4 years
- 2400 = P + 400
- P = 2400 - 400 = 2000
Calculating Rate of Interest
Using the formula for simple interest:
- Simple Interest (SI) = (P * R * T) / 100
Where:
- SI = Total Interest earned in 4 years = 400
- P = Principal = 2000
- T = Time = 4 years
Plugging in the values:
400 = (2000 * R * 4) / 100
Solving for R:
- R = (400 * 100) / (2000 * 4)
- R = 5
Conclusion
The rate of interest per annum is:
- 5%
To find the rate of simple interest per annum, we can analyze the information given:
- The amount becomes 2400 in 4 years.
- The amount becomes 2500 in 5 years.
Calculating the Interest Earned
We can calculate the interest earned in the 5th year:
- Total amount after 5 years: 2500
- Total amount after 4 years: 2400
The interest earned in the 5th year is:
- Interest for 1 year = 2500 - 2400 = 100
Calculating Total Interest for 4 Years
Since the interest for 1 year is 100, the total interest earned in 4 years is:
- Total Interest in 4 years = 4 * Interest for 1 year = 4 * 100 = 400
Finding the Principal Amount
Now, we can find the principal amount (P):
- Amount after 4 years = Principal + Total Interest in 4 years
- 2400 = P + 400
- P = 2400 - 400 = 2000
Calculating Rate of Interest
Using the formula for simple interest:
- Simple Interest (SI) = (P * R * T) / 100
Where:
- SI = Total Interest earned in 4 years = 400
- P = Principal = 2000
- T = Time = 4 years
Plugging in the values:
400 = (2000 * R * 4) / 100
Solving for R:
- R = (400 * 100) / (2000 * 4)
- R = 5
Conclusion
The rate of interest per annum is:
- 5%
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An amount of money at certain rate of simple interest per annum becomes 2400 in 4 years and 2500in5 years . find the rate of interest p.a?
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An amount of money at certain rate of simple interest per annum becomes 2400 in 4 years and 2500in5 years . find the rate of interest p.a? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about An amount of money at certain rate of simple interest per annum becomes 2400 in 4 years and 2500in5 years . find the rate of interest p.a? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for An amount of money at certain rate of simple interest per annum becomes 2400 in 4 years and 2500in5 years . find the rate of interest p.a?.
An amount of money at certain rate of simple interest per annum becomes 2400 in 4 years and 2500in5 years . find the rate of interest p.a? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about An amount of money at certain rate of simple interest per annum becomes 2400 in 4 years and 2500in5 years . find the rate of interest p.a? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for An amount of money at certain rate of simple interest per annum becomes 2400 in 4 years and 2500in5 years . find the rate of interest p.a?.
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