Question

Karim took a loan of Rs 1500 at the rate of interest same as the number of years. If he paid Rs 375 as interest at the end of the loan period find the number of years.

Answer 1

$P=1500$Rs.

$R=x\%$

$T=x$ yrs

$SI=375$ Rs.

$SI=\frac{PRT}{100}$

$\Rightarrow 375=\frac{1500\times x\times x}{100}$

$\Rightarrow \frac{375}{15}=x^2$

$\Rightarrow x^2=25$

So $x=5$

$R=5\%$ & $T=5$ years.