Question

3. If Meenakshee pays an interest of ? 1500 for 4 years on a sum of 72500, find the rate of interest per annum
INCERT Exemplar]​

Answer 1

Answer:

interest paid=₹1500

time taken=4 years

sum of amount=72500

rate of interest per annum=?

rate of interest for a month=1500

rate of interest for a year=1500x12

So,the rate of annum per year=18000