Question

At what rate percent will Rs. 1500 will amount to Rs.2400 in four years
10%
12%
15%
8%​

Answer 1

Answer:

Time period (T) = 4 years

Amount (A) = Rs. 2100

Principal (P) = Rs. 1500

Interest = A-P

= Rs. (2100-1500) = Rs. 600

We have, I=PTR100

600=1500×4×R100

⇒600=60×R⇒R=60060⇒R=10

∴ Rate of interest =10%