Find the rate of interest if the amount owed after $6$ months is Rs. $1, 050$ , borrowed amount being Rs. $1, 000$ .

7 %

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8 %

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9 %

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10 %

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Solution

The correct option is D $10 %$
We know $A =$ P+ PIT$
i.e., $1050 = 1000 + 1000 \times I \times 6 / 12$
$50 = 500 I$
$I = 1 / 10 = 10 %$

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Find the rate of interest if the amount owed after 6 months is Rs. 1,050, borrowed amount being Rs. 1,000.

The correct option is D 10%We know A=P+ PIT$i.e., 1050=1000+1000×I×6/1250=500II=1/10=10%

Find the rate of interest if the amount owed after $6$ months is Rs. $1, 050$ , borrowed amount being Rs. $1, 000$ .

The correct option is D $10 %$
We know $A =$ P+ PIT$
i.e., $1050 = 1000 + 1000 \times I \times 6 / 12$
$50 = 500 I$
$I = 1 / 10 = 10 %$