Rajesh borrowed RS. $5, 000$ from a bank. He will have to pay Rs. $10, 000$ after $5$ years.
Find the rate of interest, if the interest is payable half yearly.

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Solution

Given
$P = 5000$
$T = 5 \times 2 = 10$
$I = 10000 - 5000 = 5000$
$\Rightarrow 5000 = \frac{5000 \times R \times 10}{100}$
$\Rightarrow R = 10$ % per $6$ months

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Rajesh borrowed RS. 5,000 from a bank. He will have to pay Rs.10,000 after 5 years.Find the rate of interest, if the interest is payable half yearly.

GivenP=5000T=5×2=10I=10000−5000=5000⇒5000=5000×R×10100⇒R=10% per 6 months

Rajesh borrowed RS. $5, 000$ from a bank. He will have to pay Rs. $10, 000$ after $5$ years.
Find the rate of interest, if the interest is payable half yearly.

Given
$P = 5000$
$T = 5 \times 2 = 10$
$I = 10000 - 5000 = 5000$
$\Rightarrow 5000 = \frac{5000 \times R \times 10}{100}$
$\Rightarrow R = 10$ % per $6$ months