Question

( 7.) At what rate of interest per annum will 3 1,550 give interest of 310 over a period of 15 monthes?​

Answer 1

Answer:

16

Step-by-step explanation:

Let's consider the rate of interest as R.

So, Interest = Principal × Rate of interest × Number of years ÷ 100

I = P×N×R÷100

310 = 1550 × 15/12 × R/100

31000 = 1550 × 5/4 × R

31000 × 4/5 = 1550 × R

6200×4/1550 = R

2480/155 = R

R = 16