Welcome to Westonci.ca, the ultimate question and answer platform. Get expert answers to your questions quickly and accurately. Our Q&A platform provides quick and trustworthy answers to your questions from experienced professionals in different areas of expertise. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform.
Sagot :
The rate of interest applied on the amount is 15%.
According to the statement
we have given that the sum of money amounts to Rs. 2175 in 3 years and to Rs. 2625 in 5 years.
And we have to find the rate of interest on this money.
So, For this purpose,
The given equation is:
Money in 3 years = 2175
Money in 5 years = 2625
Amount increased in 2 years = 2625-2175
Amount increased in 2 years = 450
And amount increased per year = 450/2
Amount increased per year = 225.
SI in 3 years=450/2 *3=Rs. 675
Principal amount= 2175-675=1500
so again,
R=(I*100)/(P*T)
R=15%
So, The rate of interest applied on the amount is 15%.
Learn more about rate of interest here
https://brainly.com/question/14714045
#SPJ1
Thank you for trusting us with your questions. We're here to help you find accurate answers quickly and efficiently. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.
