Question

At what rate percent per annum will the simple interest on rupees 6720 be rupees in 1911 in 3 years 3 months.

Answer 1

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Here is your answer

P = Rs. 6720
S.I. = 1911
T = 3 years 3 months
$= 3 \frac{1}{4} \\ \\ = \frac{13}{4} years$

As we know the formula,

$r = \frac{100 \times si}{p \times t} \\ \\ r = \frac{100 \times 1911 \times 4}{6720 \times 13} \\ \\ r = 8.75 \% \: p.a.$

Therefore, Rate of interest is 8.75%.

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