Question

At what rate percent per annum will 3600 amount to 4734 in 3.5 years?

Answer 1

Answer:

If  it is Simple interest then,

(Principle * rate of interest * year)/100  + principle  = Amount

(3600 * r * 3.5)/100 + 3600 = 4734

(3600 * r * 3.5)/100 = 4734 - 3600

(3600 * r * 3.5)/100 = 1134

  r =  (1134 * 100)

        -----------------

           3600 * 3.5

r = 9 %