Question

(i) What is the rate of interest, if ₹ 3,750 amounts to ₹ 4,650 in 4 years?
(ii) Find the gain percent, when: S.P. = Rs 1820 and gain = Rs 420.

Answer 1

(i) It is given that
P $=₹3,750$
A $=₹4,650$
S.I = A – P
Substituting the values $=4650–3750=₹900$
T $=4$ years
Here
Rate $=\frac{S.I\times 100}{P\times T}$
Substituting the values $=\frac{900\times 100}{3750\times 4}=6$% p.a.
(ii) Given SP = Rs. $1820$, gain = Rs. $420$
Gain = SP $–$ CP
CP $=1820–420$ = Rs. $1400$
Gain% $=\frac{Gain}{CP}\times 100$% $=\frac{420}{1400}\times 100$%
Gain% $=30$%