Question

2. Find rate of interest per annum for the followingn
1500 gives an interest of 270 in 3 years.​

Answer 1

Answer:

6% per annum

Step-by-step explanation:

Principal (P) = Rs.1500

Simple Interest (SI) = Rs.270

Time (T) = 3 years

Let the rate of interest be R.

SI = PRT/100

=> 270 = 1500×R×3/100

=> 270 = 45×R

=> R = 270/45

=> R = 6% per annum