Question

Question 132

₹ 9000 becomes ₹ 18000 at simple interest in 8 yr. Find the rate per cent per annum.

Answer 1

Given, P = ₹ 9000, A = ₹ 18000 and T = 8 yr

As we know, A = P + I
$\Rightarrow I=A-P=18000-9000$
$I$= ₹ 9000

Now, $I=\frac{P\times R\times T}{100}\Rightarrow R=\frac{I\times 100}{P\times T}=\frac{9000\times 100}{9000\times 8}$

R = 12.5 %

Hence, the rate of interest per annum is 12.5 %.