Home
Class 7
MATHS
₹5000 yields ₹100 more aas interest than...

`₹5000` yields `₹100` more aas interest than `₹4000`, if both the sums are invested at the same rate of interest per anuum for `2` years. Find the rate of interest.

Text Solution

AI Generated Solution

The correct Answer is:
To find the rate of interest, we will use the formula for Simple Interest (SI): \[ \text{SI} = \frac{P \times R \times T}{100} \] Where: - \( P \) is the principal amount, - \( R \) is the rate of interest per annum, - \( T \) is the time in years. ### Step 1: Calculate Simple Interest for ₹5000 For the first principal amount of ₹5000: \[ \text{SI}_1 = \frac{5000 \times R \times 2}{100} \] ### Step 2: Calculate Simple Interest for ₹4000 For the second principal amount of ₹4000: \[ \text{SI}_2 = \frac{4000 \times R \times 2}{100} \] ### Step 3: Set up the equation based on the problem statement According to the problem, ₹5000 yields ₹100 more interest than ₹4000: \[ \text{SI}_1 = \text{SI}_2 + 100 \] Substituting the values of SI1 and SI2 from steps 1 and 2: \[ \frac{5000 \times R \times 2}{100} = \frac{4000 \times R \times 2}{100} + 100 \] ### Step 4: Simplify the equation First, we can cancel the common terms (the factor of 2/100) from both sides: \[ 5000R = 4000R + 100 \] ### Step 5: Rearranging the equation Now, we move \( 4000R \) to the left side: \[ 5000R - 4000R = 100 \] This simplifies to: \[ 1000R = 100 \] ### Step 6: Solve for R Now, divide both sides by 1000: \[ R = \frac{100}{1000} = 0.1 \] ### Step 7: Convert to percentage To convert \( R \) into a percentage, we multiply by 100: \[ R = 0.1 \times 100 = 10\% \] ### Final Answer The rate of interest is **10%**. ---
Promotional Banner

Topper's Solved these Questions

  • SIMPLE INTEREST

    ICSE|Exercise unit practice paper III|7 Videos
  • SIMPLE INTEREST

    ICSE|Exercise Challenge|2 Videos
  • SIMPLE INTEREST

    ICSE|Exercise Exercise 10.1|14 Videos
  • SETS

    ICSE|Exercise EXERCISE 6 D|23 Videos
  • SIMPLE LINEAR EQUATIONS

    ICSE|Exercise Unit Practice Paper II |8 Videos

Similar Questions

Explore conceptually related problems

Interest earned on ₹9000 is ₹400 more than the interest earned on ₹7000 . If both the sums are invested at the same rate of interest for 4 years, find the rate of interest.

Interest earned on ₹20,000 is ₹1600 more than the interest earned on ₹16,000 . If both the sums were invested at the same rate of interest for 4 years. Find the rate of interest.

interest earned on ₹8000 is ₹405 more than the interest earned on ₹6500 . If both the sums are invested at the same rate of interest for 3 years, find the rate of interest.

Interset earned on ₹12,000 is ₹980 more than the interest earned on ₹8500 . If both the sums were invested at same rate of interest for 4 years, find the rate of interest.

The difference between C.I. and S.I. on Rs 7,500 for two years is Rs 12 at the same rate of interest per annum. Find the rate of interest.

A sum of Rs. 16000 earns a simple interest of Rs. 2560 in 2 years. Find the rate of interest per annum.

An amount of money invested trebled in 6 years . Find the rate of interest earned .

The interest on a certain sum of money is 0*24 times of itself in 3 years. Find the rate of interest.

If Rs 100 amounts to Rs 120 in 2 years , then the rate of interest per annum is

Find the rate of interest per annum at which ₹900 will yield an interest on ₹180 in 5 years.