Question

15. Find the simple interest on 6,000 for the period from June 7 to October 31 at the rate 9% per annum.
Find the amount also.
Please solve fast and also describe how to change time period in year.​

Answer 1

Answer:

A sum of Rs. 25000 becomes Rs. 27250 at the end of 3 years when calculated at simple interest. Find the rate of interest.

Solution:

Simple interest = 27250 – 25000 = 2250

Time = 3 years.

SI = PTR / 100 → R = SI * 100 / PT

R = 2250 * 100 / 25000 * 3 → R = 3%