Question

14. Find the rate of interest per annum
(a) if 5000 gives an interest of 1500 in 3 years.
(b) if1050 gives an interest of 168 in 2 years.​

Answer 1

Answer:

(a) P= 5000, SI= 1500, T= 3

R= SI*100/P*T

=1500*100/5000*3

= 10% p. a.

(b) P=1050,SI=168, T= 2

R= SI*100/P*T

=168*100/1050*2

= 8% p. a.