Question

Find at what rate of interest per annum will Rs. 600 amounts to Rs. 708 in 3 years​

Answer 1

Answer:

6% p.a

Step-by-step explanation:

P= Rs. 600, Amount = Rs. 708, Time = 3 years

Simple Interest = Rs. 708 − Rs. 600 = Rs. 108

Simple Interest = P × R × T/100

⇒ 108 = 600 × R × 3100

⇒ R = 108 × 100600 × 3= 6%