Question

d) Calculate the rate of interest for the sum of *78,234 that gives an interest of 24,643.71 in 7 years.
please tell me . ​

Answer 1

4.5% simple interest per annum

(total interest in 7 years 31.5% of the sum.)

Step-by-step explanation:

Assume S.I per annum is x%

7 years S.I will be 7x%

therefore,

78234 × 7x/100 = 24643.71

=》 7x = 2464371/78234

=》 x = 2464371/ 78234 × 7

=》 x = 4.5%

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