Question

3. At what rate per cent per annum will Rs. 700 produce Rs. 168 as simple interest in 24 years?​

Answer 1

Answer:

1%

Step-by-step explanation:

Given,

P = 700, T = 24 year , SI = 168 then, R = ?

Now,

SI = PRT/100

168 = 700xRx24/100 = 168R

R = 1.

Answer 2

Answer:

1%

Step-by-step explanation:

let the rate of interest be 'r'

principal,p = Rs. 700

Simple interest , I = Rs. 168

time , t= 24 years

we know that ,

$i = \frac{p \times r \times t}{100}$

$= > 168 = \frac{700 \times r \times 24}{100}$

$= > r = \: \frac{168 \times 100}{700 \times 24}$

$= > r = 1$

Hence the rate of interest =1%