Mr. Jog borrowed Rs. $5000$ for $2$ years to make home improvements. If he repaid a total of Rs. $15, 000$ , find the interest rate at which he borrowed the money.

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Solution

The correct option is D $100$ %
We have,
$P = R s . 5000$
$T = 2 y e a r s$
$R = ?$
$A = R s . 15000$

We know that
$S . I = \frac{P R T}{100}$ and $A = P + S . I$

So,
$A - P = \frac{P R T}{100}$

$15000 - 5000 = \frac{5000 \times R \times 2}{100}$

$10000 = 100 R$

$R = 100 %$

Hence, the rate at which he borrowed the money is $100 %$

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Mr. Jog borrowed Rs. 5000 for 2 years to make home improvements. If he repaid a total of Rs. 15,000, find the interest rate at which he borrowed the money.

The correct option is D 100%We have,P=Rs. 5000T=2 yearsR=?A=Rs. 15000We know thatS.I=PRT100 and A=P+S.ISo,A−P=PRT10015000−5000=5000×R×210010000=100RR=100%Hence, the rate at which he borrowed the money is 100%

Mr. Jog borrowed Rs. $5000$ for $2$ years to make home improvements. If he repaid a total of Rs. $15, 000$ , find the interest rate at which he borrowed the money.