Gunjan invested in a simple interest scheme which offers 7% per annum rate of interest for first 5 years, r% per annum rate of interest for remaining 6 years. Find the value of ‘r’ if Rs. 5300 interest is earned on the invested sum of Rs. 10000.?

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LohaHridoy

5 views

2025-01-04 04:42

1 Answers

AhmedNazir

Option 2 : 3

GIVEN:

Principal = Rs. 10000

SI = Rs. 5300

CONCEPT:

Simple interest concept.

Cumulative rate if the rate of interest is ‘R₁’ for ‘T₁’ years and ‘R₂’ for ‘T₂’ years = R₁T₁ + R₂T₂

FORMULA USED:

SI = PRT/100

Where P = Principal, R = rate of interest, T = Time

CALCULATION:

Cumulative rate = 7 × 5 + r × 6 = (35 + 6r)%

Now,

/100 = 5300

⇒ (35 + 6r) = 53

⇒ 6r = 18

⇒ r = 3

∴ The value of ‘r’ is 3%.

5 views Answered 2022-09-04 04:29

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