Question

at what rate percent per annum will the simple interest on rupees 6950 be rupees 34 7.50 in 5 month

Answer 1

I=PTR/100
347.5=6950×5/12×x/100
x=12%

Answer 2

The rate of interest is 12%

Step-by-step explanation:

Principal = 6950

Simple interest = 347.50

Time = 5 months = $\frac{5}{12} years$

Formula : SI = \frac{P \times T \times R}{100}

Si = Simple interest

P = Principal

T = time

R = rate of interest

So,$347.50 = \frac{6950 \times \frac{5}{12} \times R}{100}\\\frac{347.50 \times 100}{6950 \times \frac{5}{12}} =R\\12\%=R$

Hence the rate of interest is 12%

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