Question

AT WHAT RATE WILL RS 7200 FETCH A SIMPLE INTEREST OF RS 3024 IN 4 YEARS?? (PLZ ANSWER NOW)

Answer 1

Given principal = 7200

           Interest = 3024

           Time = 4 years.


We know that SI = PRT/100

                        3024 = 7200 * R * 4/100

                        3024 = 72 * R * 4

                        3024/288 = R

                        10.5 = R.


Therefore the rate of interest R = 10.5%.


Hope this helps!

Answer 2

Heya,

According to the question,

Principle amount (P) = ₹7200

Time (T) = 4yrs

Interest = ₹3024

Rate(R) = ?

Simple interest = P×R×T/100

Therefore,

3024 = 7200×4×R/100

R = 302400/28800

R = 10.5

Rate = 10.5%

Hope this helps.....:)