Question

At what rate percent it will rupees 1500 amount to rupees 2400 in 4 years


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Answer 1

Answer:

answer is 15%

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Answer 2

Given:

1500 is the amount to rupees 2400 in 4 years.

To find:

We have to find the rate of interest.

Solution:

To determine the percentage of interest we have to follow the below steps as follows-

For simple interest, we know that-

I=prt/100

Where I is the interest equal to 2400-1500=900.

p is the principal amount=1500.

t is the time of investment=4 years.

r is the rate of interest=x%.

So, we can write-

$900 = \frac{1500 \times 4 \times x}{100} \\ x = \frac{900}{15 \times 4} \\ x = 15\%$

The value of x is 15.

So, the rate of interest is 15%.