Question

Find the rate of interest for a sum of Rs.75000, if the total amount received at the end of 5 years is Rs.90000
Can u explain how to get the answer using this formula?

SI=PxRxT/100​

Answer 1

Answer:

4%

Step-by-step explanation:

Principal (P) = 75000

Amount (A) = 90000

therefore Interest (I) = A - P = 15000

Time(t) = 5 yr

let , Rate of interest (r) = r %

Using formula I = Prt/100

$15000 = \frac{75000 \times r \times 5}{100} \\ 15 = \frac{75 \times r \times 5}{100} \\ 1 = \frac{5 \times 5 \: \times r}{100} \\ r = 4\%$