Question

At what rate will sum of ₹500 pays interest of ₹75 in 4 years

Answer 1

Hi ,

principal = p = Rs 500

interest = I = Rs75

time = t = 4 years

Let the rate of interest = r %

r = ( 100I ) / pt

= ( 100 × 75 ) / ( 500 × 4 )

= 75 / 20

= 2.75 %

I hope this helps you.

: )

Answer 2

principal = 500 rupees
simple interest = 75 rupees
time =4 years
so rate = 100×si/p×t
= 100×75/500×4 = 3.75%
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