Answer:
[tex] \boxed{ \bold{ \huge{ \boxed{ \sf{8 \: \% \: }}}}}[/tex]
Step-by-step explanation:
Given,
Principal ( P ) = N 250
Time ( T ) = 4 years
Amount ( A ) =N 330
Rate ( R ) = ?
First, finding the Interest :
According to definition of Amount ,
Amount = Principal + Interest
plug the values
⇒[tex] \sf{330 = 250 + I}[/tex]
Move i to left hand side and change it's sign
⇒[tex] \sf{ - I = 250 - 330}[/tex]
Calculate
⇒[tex] \sf{ - I = - 80}[/tex]
Change the signs of the both equation
⇒[tex] \sf{I = 80 }[/tex]
Interest = 80
Finding the rate :
Simple Interest = [tex] \sf{ \frac{PTR}{100} }[/tex]
plug the values
⇒[tex] \sf{80 = \frac{250 \times 4 \times R}{100} }[/tex]
Multiply the numbers
⇒[tex] \sf{80 = \: \frac{1000 \: R}{100} }[/tex]
Apply cross product property
⇒[tex] \sf{1000R = 100 \times 80}[/tex]
Multiply the numbers
⇒[tex] \sf{1000R = 8000}[/tex]
Divide both sides of the equation by 1000
⇒[tex] \sf{ \frac{1000R}{1000} = \frac{8000}{1000} }[/tex]
Calculate
⇒[tex] \sf{R = 8 \: \% \: }[/tex]
Thus, Rate = 8 %
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Let's learn about Principal , Interest , Time , Rate and Amount :
- Principal = The money which is borrowed or deposited is called principal.
- Interest = The additional amount of money which is paid by borrower to the lender is called interest.
- Time = The duration of time for which principal us deposited or borrowed is termed as time period.
- Rate = The condition under which the insterest is charged is called rate.
- Amount = The sum of principal and Interest is called an amount.
Hope I helped!
Best regards!!
