Question

At what rate of interest will the sum of Rs . 5000 give an interest of Rs . 1450 in 1year ?​

Answer 1

I = (PTR)/100

1450=(5000*1*R)/100

1450*100=5000R

145000/50000=R

29=R

Answer 2

Explanation:

We know,

`S.I. = \rm\cfrac{P*R*T}{100}`

Given,

Principal P = 5000

Rate R = R(Assume)

Time T = 1

Interest = 1450

Plug:

`1450 = (5000 * r * 1)/(100)`

Solve:

`1450 * 100 = 5000 * r`

`145000 / 5000 = r`

`r \: = \: 29 \%`

Rate = 29

Therefore,the rate of Interest is 29%.