Question

Anuradha deposited Rs 15000 in a bank for 3 years at simple interest . if she received Rs 24000 at the end of the period find the rate of simple interest ?

give steps

Answer 1

Answer is 20 percent.

Answer 2

principal amount =15000
time period =3 years
s.i=24000-15000
=9000
rate of simple interest=
$9000 \times 100 \div 15000 \times 3$
9000×100÷15000×3
=20 percent