Question

3) Ram the centain rate of interest. If he restura borrowed rupees 24,000 for 4years at Yupeesz 2 L30800 at the end of the period a . What was rate of interest.
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Answer 1

Answer:

Principle (P)=Rs.24000

Rate (R)=7.5 p.a

Time (T)=4 years

S.I=100P×T×R=10024000×4×7.5=Rs.240×4×7.5

=240×30=Rs.7200

Amount needed to clear the debt at the end of 4th year

Rs.24000+Rs.7200=Rs.31200

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