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If the simple interest for one year on t...

If the simple interest for one year on the amount of Rs. 5000 is 200 rs then find the rate of interest?

A

`4%`

B

`8%`

C

`10%`

D

`6%`

Text Solution

AI Generated Solution

The correct Answer is:
To find the rate of interest, we can use the formula for simple interest. The formula for calculating the rate of interest is given by: \[ \text{Rate} = \left( \frac{\text{Simple Interest}}{\text{Principal}} \right) \times 100 \] ### Step-by-Step Solution: 1. **Identify the given values:** - Principal (P) = Rs. 5000 - Simple Interest (SI) for one year = Rs. 200 2. **Substitute the values into the formula:** \[ \text{Rate} = \left( \frac{200}{5000} \right) \times 100 \] 3. **Calculate the fraction:** \[ \frac{200}{5000} = 0.04 \] 4. **Multiply by 100 to convert to percentage:** \[ \text{Rate} = 0.04 \times 100 = 4\% \] 5. **Final Answer:** The rate of interest is **4% per annum**.
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Knowledge Check

  • If amount of Rs 8000 becomes 10000 in 4 years then find the rate of interest?

    A
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    B
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