Question

At what rate per cent per annum simple interest will 66000 amount to 72720 in 2 years

Answer 1

Principal=₹66000
Time=2years
Amount=₹72720
Amount=Principal +si
66000+si=72720
Si=72720-66000
SI=₹6720

So let rate=x %
si=p×r×t/100
66000×x×2/100=6720
1320x=6720
x=6720/1320
$rate = 5 \times \frac{1}{11} \%$

Answer 2

Answer:

S.I. = Amount - principal

= 72720 - 66000

= 2100

S I = $\frac{P×R×T}{100}$

2100 = $\frac{66000 × R × 2}{100}$

R = $\frac{2100× 100}{6300 ×4}$

= $\frac{25}{3}$ = 8⅓%