Question

at what rate percent per annum simple in interest will ₹66000 amount to ₹2100 in 4 years​

Answer 1

We obtain the Rate of interest as 5.09%, which is the required answer of the question.

Answer 2

Step-by-step explanation:

Hint: We have the formula of Simple interest

as SI =

PRT

100

-, where P is the Principal, R

is the Rate of interest and T is the time in

years. We will use this formula to solve the

given question.

Complete step-by-step answer:

The values given are Principal P= 66000, Amount A=72720, and Time T=2 years. Observing the question, we are given the principle, P and amount, A so we can easily calculate the Simple interest Sl using the formula,

SI = A P

Therefore, the value of Sl will be

SI = 72720-66000 = Rs.6720

Now, since after obtaining the value of

Simple Interest i.e., Sl as Rs 6720 we can

easily find out the rate of interest which is to

be determined, by using the formula,

PRT

100

SI =

Rearranging of the above formula gives the

rate of interest as,

R = (SI) (100) PT

Substituting the values given we get,

R=

(6720) (100)

(66000) (2)

R= 672000 132000

R = 5.09%

Hence, we obtain the Rate of interest as

5.09%, which is the required answer of the

question.

Note: While solving the question one should take care that he does not mix the values of Principle, Amount and simple interest as they are three different identities. While solving the question take out the values of most of the things using the information given in the question itself.