Question

Find the rate interest. when Rs.8750 yields. Rs.2100 as simple interest in 3 years​

Answer 1

Answer:

8.04 %

Step-by-step explanation:

Simple interest = $\frac{P*R*T}{100}$

P = ₹ 8750

SI = ₹ 2100

T = 3 years

$2100 = \frac{8700*R*3}{100}$

$3R = \frac{2100}{87}$

$3R = 24.137931034482758620689655172414$

$R =\frac{24.137931034482758620689655172414}{3}$

$R = 8.0459770114942528735632183908046 %$

∴ The rate of interest is 8.04 % (approx) in 3 years.