Question

At what rate per cent will:
a. R 250 earn R 30 in 3 years?

Answer 1

Answer: Rate=4%

Step-by-step explanation:

Principal amount= ₹250

Time = 3 years.

Simple Interest amount= ₹30

As per the formula of Simple Interest

SI= $\frac{PxRxT}{100}$   { where P=Principal amount , R=Rate of interest , T=Time}

According to problem:-

⇒30 =$\frac{250xRx3}{100}$

⇒3000=750×R

⇒R=$\frac{3000}{750}$

⇒R= 4%

Therefore rate of interest will be 4%.