Question

at what rate will rupees 2500 fetch and interest of rupees 300 in 4 years

Answer 1

R = 100xi/pxT

= 100x2500/300x4

= 2500x25/300

= 6% And

Answer 2

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$<b><i>$Given,

P = ₹ 2500

I = ₹ 300

T = 4 years

Let the Rate be R% p.a.

We know that

I = (P × R × T)/100

$\implies$300 = (2500 × R × 4)/100

$\implies$300 = 25 × R × 4

$\implies$300 = 100R

$\implies$R = 300/100

$\implies$R = 3

Hence, the Rate is 3% p.a.