Question

at what rate percent per annum will the simple interest on rs. 5,600 be rs. 1,960 in 4 years

Answer 1

Answer:

8.75 % per annum.

Hopefully it helps to

Answer 2

Given: Amount - rs.5600

: Interest - rs.1960

: No of years - 4

The formula for simple interest

I=PxRxN/100

So, 1960=5600xRx4/100....dividing 5600 by 100

1960=56xRx4

1960/56x4=R

1960/224=R

8.75=R

So, R=8.75 rate of interest =8.75 p.c.p.a