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5 A shim of money amounts to R 1150 in 3 years and to? 1250 in 5 years at a certain rate per cent p.a. simpleinterest. The rate per cent p.a. will be |
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Answer» Let the rate of interest be r% and the principal be Rs.P We know, Interest = (Principal*Rate*Time)/100 According to the problem, in 3 years, 1150-P = (P * 3 * r) / 100;i.e., (1150-P)/3 = (P*r)/100 ....... this be equation (i) According to the problem, in 5 years, 1250-P = (P * 5 * r) / 100;i.e., (1250-P)/5 = (P*r)/100 ....... this be equation (ii) Comparing equations (i) and (ii), we get:(1150-P)/3 = (1250-P)/5i.e., 5*(1150-P)=3*(1250-P);i.e., 5750 - 5P = 3750 - 3Pi.e., 2P = 2000i.e., P = Rs. 1000 Putting this value of P in equation (i), we get the value of ri.e., (1150-P)/3 = (P*r)/100i.e., 150/3 = (1000*r)/100i.e., 50 = (10*r)i.e., r = 5 % Ans: Rate = 5% |
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