Amar and chaman borrowed rs 2250 and rs 2500 respectively at the same rate of simple interest7/2years.if chaman paid rs 140 more interest th

Question

Amar and chaman borrowed rs 2250 and rs 2500 respectively at the same rate of simple interest7/2years.if chaman paid rs 140 more interest than amar find the rate of interest per annum​

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2 months 2021-11-28T14:02:18+00:00 2 Answers 0 views 0

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Rate of interest is 16 % p.a.

For Amar,

Principal (P) = Rs 2250

Time (T) = 7/2 years

Rate (R) = r % p.a.

We know, Simple Interest (S.I.) = (P × R × T) ÷ 100

∴ SI₁ = Rs (2250 × r ×7/2) ÷ 100 = Rs 78.75 r

For Chaman,

Principal (P) = Rs 2500

Time (T) = 7/2 years

Rate (R) = r % p.a.

We know, Simple Interest (S.I.) = (P × R × T) ÷ 100

∴ SI₂  = Rs (2500 × r × 7/2) ÷ 100 = Rs 87.5 r

Given, Chaman paid Rs 140 more interest than Anand.

So, SI₂ – SI₁ = Rs 140

⇒ Rs (87.5 r – 78.75 r) = Rs 140

⇒ 8.75 r = 140

⇒ r = 140/8.75= 16%

Rate  = 16% p.a.