Question

At what rate will 6000 yield the simple interest of 780 for 4 years?​

Answer 1

Si = PXTXR/100

P = 6000

T = 4 years

Si = 780

R = ?

r = (S.I × 100)/(p × t)

= (780 × 100)/(6000 x 4)

= 78000/24000 = 3.25

Rate = 3.25%