Question

Find the rate of interest at which Rs. 270000 will amount to Rs. 4,28750 in 3 years?​

Answer 1

Answer:

Principal (P) = ₹ 3,750

Amount (A) = ₹ 4,650

∴ S.I. = A – P = ₹4,650 – 3,750

= ₹900

Time (T) = 4 years.

∴ Rate = S.I. × 100/P × T = (900 × 100)/(3750 × 4)

= 6 % p.a.