Question

calculate the rate at which #30,000 will yield interest of #75,000 in 2years

Answer 1

Interst rate=Interest×100

Original×Time

=75000×100

30000×2

=75×5 [by cancelling 75000 & 30000;

30 30 & 100; 10 & 2]

=75 [by cancelling 5 & 30]

6

=25 [by cancelling 75 & 6]

3

=8 1/3 %

Ans:8 1/3%.