Question

5. 1800 amount to Rs. 2448 in 3 years. What-is the rate of interest?​

Answer 1

Answer:

S.I. of 1 year = Amount after 4 year – Amount after 3 year = 2448 – 2286 = 162

P = Amount of 3 years – S.I of 3 years = 2286 – 162 × 3 = 2286 – 486 = 1800

S.I = (P × R × T)/100

⇒ 162 = (1800 × R × 1)/100

∴ R = 162/18 = 9%