Question

At what rate % will a sum of rupees 1200 amount to rupees 1600 in 6 years solve

Answer 1

Principle = Rs. 1200

Amount = Rs.1600

Time = 6 years

rate of interest = ?

Amount = S.I + Principle   [ S.I = P R T /100]

1600     = {1200 x r x 6} / 100 + 1200

1600     = 72 r   + 1200

72 r      = 1600 - 1200

72 r     = 400

  r    =  400 /72

 r   =  5.55%