Question

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

Answer 1

Hey there !

Solution:

Time Period = 6 years

Amount = Rs.1600

Principal = Rs. 1200

=> Simple Interest = 1600 - 1200 = Rs. 400

So SI = PRT / 100

=> 400 = 1200 × Rate % × 6 / 100

=> 400 = 72 × Rate %

=> Rate % = 400 / 72 = 5.5 %

Hence at Rate % = 5.5 %, the sum of Rs. 1200 will amount to Rs. 1600 in 6 years.

Hope my answer helped !