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Calculate the interest rate if the principal is 50,000 Frs, the interest is 10,000 Frs, and the time is 4 years.

Mathematics

ScanSolve AI Answer

Answer

5%5\%

Step-by-step solution

4 steps

  1. Write down the formula for simple interest.

    The formula for simple interest is I=P×R×TI = P \times R \times T, where II is the interest, PP is the principal, RR is the rate, and TT is the time.

  2. Identify the given values.

    I=10 000I = 10\,000 Frs
    P=50 000P = 50\,000 Frs
    T=4T = 4 years

  3. Substitute the values into the formula and solve for RR.

    10 000=50 000×R×410\,000 = 50\,000 \times R \times 4 10 000=200 000×R10\,000 = 200\,000 \times R

    To find RR, divide both sides by 200 000200\,000:

    R=10 000200 000R = \frac{10\,000}{200\,000} R=120R = \frac{1}{20} R=0.05R = 0.05

  4. Convert the rate to a percentage.

    To express the rate as a percentage, multiply by 100:

    R=0.05×100%R = 0.05 \times 100\% R=5%R = 5\% 5%\boxed{5\%}
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