Question

At what rate per cent per annum will 6300yield an interest of 2100 in 4 years

Answer 1

Given :-

Principal = ₹ 6,300

Interest  = ₹ 2,100

Time      = 4 years

To find :-

Rate = ?

Solution :-

$S.I. = \dfrac{P \times R \times T}{100}$

Put the given values :-

$2100 = \dfrac{6300 \times R \times 4}{100}$

$2100 = \dfrac{63 \times R \times 4}{1}$

$\dfrac{2100}{63 \times 4} =  R$

R  = 8.3%

Rate = 8.33%

__________________________

Additional Information

Formula to find C.I. if amount and principal are given.

➣ C.I. = A - P

▪ Formula to find C.I. if principal and time are given.

➣$C.I. = P[({\dfrac{r}{100}})^n-1]$

▪ Formula to find Amount if principal and Compound Interest are given.

➣ A = C.I. + P

▪ Formula to find Interest.

➣ $\sf\:S\:I\:=\:\dfrac{P\:\times\:R\:\times\:T}{100}$

▪Formula to find amount when principal, time and rate is given.

.➣$Amount = P[1+ \dfrac{r}{100}]^n$

NOTE ..

The positive sign changes to negative sign when the value depreciates.