Question

At what rate percent per annum will the simple interest on rs 6720 be rs 1911 in 3 year 3 month.

Answer 1

Here is your answer in the attachment

Hope it helps you

Answer 2

The rate of interest is 8.75%.

• The simple interest given is Rs. 1911.
• Principal amount is Rs. 6720.
• Number of years = 3 years and 3 months = 3×12 + 3 months = 39/12 years = 3.25 years
• Now the formula for Simple interest is given as

Simple interest = $\frac{PNR}{100}$ ,

where P is principal amount, R is rate of interest and N is number of years.

• Substituting the values to obtain the rate of interest,

1911 = $\frac{(6720)(3.25)(R)}{100}$

R = $\frac{(1911)(100)}{(6720)(3.25)}$

R = 8.75 %

• Therefore the rate of interest is 8.75%.