Question

5,250 fetched an interest of 2,240 after 2 years 8 months

Answer 1

2 Years and 8 months 
=2+8/12
=2+2/3
=8/3



SI=PRT/100
R=SI*100/P*T
  =2240*100/5250*8/3
  =224000/14000
  =224/14
  =16 p.a.

 R=16 p.a.