Question

at what rate will Rs. 2500 fetch an intrest of Rs. 300 in 5 years​

Answer 1

Answer:

Rate = 2.8%

Step-by-step explanation:

Given :

Principal = ₹2500

Simple interest = ₹300

Time = 5 years

To find :

The rate

Taken :

To find the rate use this formula -:

$\boxed{\sf{R=\dfrac{100\times\:S.I.}{P\times\:T}}}$

Where,

R = Rate

S.I. = Simple interest

P = Principal

T = Time

Solution :

$:\implies\sf{R=\dfrac{100\times350}{2500\times5}}$

$:\implies\sf{R=\dfrac{14}{5}}$

$:\implies\sf{R=2.8\%}$

So , the rate of interest is 2.8 % .