Question

A sum of rs 15000 amounts to rs 19800 in 4 years. Find the rate of interest.

Answer 1

Step-by-step explanation:

Formula for Simple Interest is given by,.....

=> SI = PNR/100 where SI is Simple Interest, P is Principal Amount, N is No. of years & R is rate of Interest.

=> Given, SI = 19500 - 15000

i.e. SI = 4500

=> Substituting other given values, in the formula, we have,

=> 4500 = 15000 × 5 × R / 100

=> i.e. 450000 = 75000 R

=> i.e. R = 450000/75000

=> i.e. R = 6

So, the rate of Interest is 6% p.a....

I hope it's helpful.....

Answer 2

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