Question

at what rate of percent will Rs 4500 become Rs 6120 in 4years

Answer 1

Given
Sum (P) =₹4500

Amount (A) =₹6120

Time(t) =4yr

Simple interest(SI) = Amount - sum

=6120-4500

=1620

Si=pxrxt /100

1620=4500xrx4/100

$r = \frac{1620 \times 100}{4500 \times 4}$

R=9%

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Answer 2

Here, amount=Rs. 6120
And, Principle=Rs. 4500
So,interest=Amount - principle
= Rs 61200-Rs 4500
=Rs 1620
Now, rate = s.i×100/principle×time
= 1620×100/4500×6120
= 9%