if the interest on ₹ 2,400 be more than the interest on ₹ 2,00 by ₹ 60 in 3 years at the same rate per cent; find the rate.

If the interest on ₹ 2,400 be more than the interest on ₹ 2,00 by ₹ 60 in 3 years at the same rate per cent; find the rate.

Solution for doing this question

In first case:

P= Rs. 2400

R= x%

T= 3 years

$interest=\frac{P\times T\times R}{100}$

$=Rs.\frac{2400\times x\times 3}{100}$        

$=Rs.72x$

In second case:

P= Rs. 2000

R=x%

T= 3 years

$interest=\frac{P\times T\times R}{100}$     

$=Rs.\frac{2000\times x\times 3}{100}$

$=Rs.60x$

According to the statement,

72x= 60x+60

$\Rightarrow 72x-60x=60$

$\Rightarrow 12x=60$

$x=\frac{60}{12}$

$\Rightarrow x=5$

$\therefore$ Rate = 5%

ADs