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Calculate the rate of interest for the sun of rupees 80,000 that gives an interest of rupees 2,400 in 5 years

Respuesta :

chibabykalu16

Answer:

R = 0.6

Step-by-step explanation:

The formula to calculate simple interest is:

[tex] \text{Simple Interest} = \frac{{\text{Principal} \times \text{Rate} \times \text{Time}}}{{100}} [/tex]

Given:

Principal (P) = Rs. 80,000

Simple Interest (SI) = Rs. 2,400

Time (T) = 5 years

Let's use the formula to find the rate of interest (R):

[tex] 2400 = \frac{{80000 \times R \times 5}}{{100}} [/tex]

First, multiply 80,000 by 5:

[tex] 80000 \times 5 = 400000 [/tex]

Now, let's solve for R:

[tex] 2400 = \frac{{400000 \times R}}{{100}} [/tex]

To isolate R, multiply both sides by 100:

[tex] 2400 \times 100 = 400000 \times R [/tex]

[tex] 240000 = 400000 \times R [/tex]

Now, solve for R:

[tex] R = \frac{{240000}}{{400000}} [/tex]

[tex] R = 0.6 [/tex]

So, the rate of interest is 0.6 or 0.6%.

x2nadiax5

Answer:

To calculate the rate of interest, we can use the formula:

Interest = Principal × Rate × Time

Given that the principal (P) is rupees 80,000, the interest (I) is rupees 2,400, and the time (T) is 5 years, we can substitute these values into the formula:

2,400 = 80,000 × Rate × 5

To find the rate, we need to isolate it on one side of the equation.

First, divide both sides of the equation by 80,000 × 5:

2,400 / (80,000 × 5) = Rate

Calculating this expression gives us the value of the rate:

0.006 = Rate

Therefore, the rate of interest is 0.006 or 0.6%.

Another way to calculate the rate is to use the formula:

Rate = (Interest / Principal) × (1 / Time)

Substituting the given values, we get:

Rate = (2,400 / 80,000) × (1 / 5)

Rate = 0.03 × 0.2

Rate = 0.006 or 0.6%

So, the rate of interest for the sum of rupees 80,000 that gives an interest of rupees 2,400 in 5 years is 0.6%.

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