Question

8. In how many years will the
simple interest on Rs. 1600 at
rate of 5.5% p.a. be Rs. 484 ?​

Answer 1

Time = 2years 3 months

=2+3/12=9/4 years

We know SI=P×R×T/100

P=Rs.1600,T=9/4years,

SI=Rs.252

Put values in the above formula

=252=1600×R×9/4×100

=252=36R

=R=252/36=7%

Hope this'll help you.