Question

At what rate percent will a sum of Rs. 3750 amount to Rs. 4374 in 2 years, If
the interest is compounded annually?
simple method​

Answer 1

Given,

Principle = ₹3750

Amount = ₹4374

Time = 2 Year

Simple interest = Amount - Principle

= 4374 - 3750

= ₹624

Rate = Simple interest × 100

Principle × Time

= 624 × 100

3750 × 2

= 62400

7500

= 8.32℅

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