Rakesh borrowed ₹ 5000 from Ganesh at simple | vedclass

Name: Exam Paper Generator | JEE NEET Paper Generator | Vedclass
Brand: Vedclass
Rating: 5 (35 reviews)

Question

(A) Given:Principal $(P)$ = ₹ $5000$Simple Interest $(I)$ = ₹ $500$ (since he received ₹ $500$ more than the capital)Time $(T)$ = $5$ yearsThe formula

Vedclass · Accepted Answer

$2$

Vedclass · Answer

(A) Given:Principal $(P)$ = ₹ $5000$Simple Interest $(I)$ = ₹ $500$ (since he received ₹ $500$ more than the capital)Time $(T)$ = $5$ yearsThe formula for Simple Interest is $I = \frac{P 	imes R 	imes T}{100}$.Rearranging for the rate of interest $(R)$:$R = \frac{100 	imes I}{P 	imes T}$Substituting the values:$R = \frac{100 	imes 500}{5000 	imes 5}$$R = \frac{50000}{25000}$$R = 2 \%$Therefore,the rate of interest per annum is $2 \%$.

Rakesh borrowed ₹ $5000$ from Ganesh at simple interest. If Ganesh received ₹ $500$ more than his capital after $5$ years,then the rate of interest (in $\%$) per annum is:

Similar Questions

$A$ sum was put at simple interest at a certain rate for $4$ $years$. Had it been put at $2 \%$ higher rate,it would have fetched ₹ $56$ more. Find the sum (In ₹).

$A$ money lender finds that due to a fall in the annual rate of interest from $8 \%$ to $7 \frac{3}{4} \%,$ his yearly income diminishes by ₹ $61.50$. His capital (in ₹) is:

The rate percent per annum at which ₹ $1200$ amounts to ₹ $1440$ in $4$ years is:

The simple interest on a sum is $\frac{1}{16}$ of the principal and the number of years is equal to the rate per cent per annum. The rate per cent per annum is (in $.5$)

$A$ sum of money doubles itself in $8$ years. In how many years will it treble?

Vedclass Test Series

Exam Paper Generator

Online Exam Module