Question

A sum of 12500 amount to rs 15500 in 4 years at the rate of simple interest.What is the rate of interest

Answer 1

Answer:

principal money=Rs.12500

Rate=x %

time=4 years

S.I=12500*x*4/100

   =500x

Amount=Rs.15500

∴12500+500x=15500

 500x=15500-12500=Rs.3000

⇒x =3000/500= 6

so, Rate = 6 % p.a.

hope it helps