Home
Class 14
MATHS
A borrowed Rs. 7000 from bank, after 3 y...

A borrowed Rs. 7000 from bank, after 3 years she Returned Rs. 3000 to the bank, After 5 years from starting she returned Rs. 5450 and settle her account. Find the rate of interest.

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem step by step, we need to determine the rate of interest based on the information given about the borrowed amount and the repayments made over time. ### Step 1: Understand the Borrowed Amount and Repayments - A borrowed Rs. 7000 from the bank. - After 3 years, A returned Rs. 3000. - After a total of 5 years, A returned Rs. 5450 to settle the account. ### Step 2: Calculate the Remaining Amount After 3 Years After 3 years, the amount left to be paid back is: \[ \text{Remaining Amount} = \text{Initial Amount} - \text{Amount Returned} = 7000 - 3000 = 4000 \text{ Rs.} \] ### Step 3: Calculate the Total Amount Paid After 5 Years After 5 years, A returned a total of Rs. 5450. This amount includes interest on the remaining Rs. 4000 for the additional 2 years. ### Step 4: Determine the Interest Paid Over 2 Years The total amount paid after 5 years is Rs. 5450, which includes the remaining principal of Rs. 4000 plus interest for 2 years. Therefore, the interest paid over the 2 years is: \[ \text{Interest} = \text{Total Amount Paid} - \text{Remaining Principal} = 5450 - 4000 = 1450 \text{ Rs.} \] ### Step 5: Calculate the Rate of Interest The interest earned on the remaining principal of Rs. 4000 over 2 years is Rs. 1450. We can use the formula for simple interest: \[ \text{Simple Interest} = \frac{P \times R \times T}{100} \] Where: - \( P \) = Principal amount (4000 Rs.) - \( R \) = Rate of interest (unknown) - \( T \) = Time (2 years) Substituting the known values into the formula: \[ 1450 = \frac{4000 \times R \times 2}{100} \] ### Step 6: Solve for R Rearranging the equation to find R: \[ 1450 = \frac{8000R}{100} \] \[ 1450 = 80R \] \[ R = \frac{1450}{80} = 18.125 \] Thus, the rate of interest is: \[ R = 18.125\% \] ### Final Answer The rate of interest is **18.125%**. ---
Promotional Banner

Topper's Solved these Questions

  • RATIO & PROPORTION

    ADVANCED MATHS BY ABHINAY MATHS ENGLISH|Exercise QUESTIONS|113 Videos
  • TIME & WORK

    ADVANCED MATHS BY ABHINAY MATHS ENGLISH|Exercise QUESTIONS |82 Videos

Similar Questions

Explore conceptually related problems

Radha borrowed Rs. 3500 from bank and returned Rs. 1500 after 3 years. After 5 years from starting she returned Rs. 2725 and settle her account. What was the rate of interest ?

A man borrows Rs. 6000 from a bank at simple interest. After 4 years, he paid Rs. 2500 to the bank and at the end of 5 years from the date of borrowing he paid Rs. 4560 to settle the account. Find the rate percent per annum.

John borrowed Rs. 75000 from his friend and after one year returned Rs. 80000 to his friend. Find the interest.

A man borrowed Rs.8000 from a bank at 8% per annum.Find the amount he has to pay after 4(1)/(2) years.

Saleem borrowed Rs. 20000 at compound interest and paid Rs. 22050 after 2 years to clear the debt. Find the rate of interest.

ADVANCED MATHS BY ABHINAY MATHS ENGLISH-SIMPLE INTEREST -QUESTIONS
  1. A sum of money amounts to Rs. 1500 in 12 years. The principal Increase...

    Text Solution

    |

  2. p,q,r,w are 4 amounts such that p is S.I. of q.q is S.I. of r and r is...

    Text Solution

    |

  3. A borrowed Rs. 7000 from bank, after 3 years she Returned Rs. 3000 to ...

    Text Solution

    |

  4. Radha borrowed Rs. 3500 from bank and returned Rs. 1500 after 3 years....

    Text Solution

    |

  5. A owes B Rs. 1120 payable 2 year hence, B owes A Rs. 1081.50 payable 6...

    Text Solution

    |

  6. The present worth of bill due 7 months, hence is Rs. 1200. if the bill...

    Text Solution

    |

  7. A person invested some amount at the rate of 12% simple interest and t...

    Text Solution

    |

  8. Rs. 1720 to be paid in 4 equal installments in 4 years. Find each inta...

    Text Solution

    |

  9. Rs. 12800 is payable after 3 years. If is to be paid in 3 installments...

    Text Solution

    |

  10. A took a loan from B of Rs. 960 at 6% on a condition that he would pay...

    Text Solution

    |

  11. 2 equal sum of money are lent at the same time at 8% and 7% per annum ...

    Text Solution

    |

  12. Rs 10 is to be paid in 11 monthly installment. If each installment is ...

    Text Solution

    |

  13. Rs. 9 is to be paid in 10 monthly installment. Find Rate of interest i...

    Text Solution

    |

  14. A man wants to purchase of T.V. of Rs. 9000. He paid Rs 2200 at the ti...

    Text Solution

    |

  15. The annual installment that will dischage a debt of Rs 47250 due 3 yea...

    Text Solution

    |

  16. The annual installment that will discharge a debt of Rs. 4200 due in 5...

    Text Solution

    |

  17. A cycle costs Rs. 1500. If Rs 350 was paid as case payment and Rest am...

    Text Solution

    |

  18. Find the annual installment that will discharge a debt of Rs. 12900 du...

    Text Solution

    |

  19. Simran started a software business by investing Rs. 50,000. After six ...

    Text Solution

    |

  20. A man Deposit a sum of money in starting of every year till 4 years. A...

    Text Solution

    |