Question

at what rate RS 7200 will give RS3024 As simple interest in 4 years

Answer 1

hello Frnd

here principal amount = 7200
Interest = 3024
Time = 4 yrs
Rate =. to be find

As we know that

Simple Interest = P × R/100 ×T
3024 = 7200 × R/100 × 4
3024/28800 = R/100
R = 10.5 %

Hence Rate of Interest would be 10.5%




hope it helps you
#jerri