Question

At what rate will Rs.7200 fetch S.I of Rs.3024 in 4 years?

Answer 1

formula of SI =p x r x t/100
where p is the sum
r is rate and t is time
now,
3024=7200 x r x 4/100
=72 x r x 4
=288 x r

r=3024/288=10.5%