Question

Find rate of interest when Principal= Rs. 666.25 , Amount = Rs. 687.57 , Time= 292 days​

Answer 1

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First we have to find simple interest

Si = amount - principal

Si = 687.57 - 666.25 = 21.32

time = 292 days = 0.8 year

$si = \frac{p \times r \times t}{100}$

$21.32 = \frac{666.25 \times 0.8 \times r}{100} \\ \\ \frac{2132}{100} = \frac{66625 \times 8 \times r}{100 \times 100 \times 10} \\ \\ r = \frac{2132 \times 100000}{100 \times \times 66625 \times 8} \\ \\ r = \frac{213200000}{53300000} \\ \\ r = \frac{2132}{533} = 4\%$

Rate = 4%

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