Find simple interest and rate if principal is 7000 ,time period-5years and amount-8500
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Interest is Rs. 1500 and rate of interest is 4.29 %.
Explanation:
Interest = 8500-7000= Rs. 1500
I =Prt
=> 1500 = 7000 * r *5
=> % r = (1500/7000 *5) 100
=> % r =( 1500/35000) 100
=> % r = 4.29
Explanation:
Interest = 8500-7000= Rs. 1500
I =Prt
=> 1500 = 7000 * r *5
=> % r = (1500/7000 *5) 100
=> % r =( 1500/35000) 100
=> % r = 4.29
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