Question

At what rate of simple interest will Rs. 1860 amount to Rs. 2278.50 in 4 years​

Answer 1

Answer:

$r=5.625\%$

Step-by-step explanation

using the formula

$A=P(1+rt)$

where

A= final amount

P= principal   and r= rate  and t= time

in our case

A = 2278.50     t=4    and   P= 1860

now

$2278.50=1860(1+4r)\\1+4r=1.225\\4r=0.225\\ r=0.05625\\r=5.625\%$