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 ​

Answer 1

Answer:

4%

Step-by-step explanation:

simple interest =( sum × rate × time)÷100

simple interest = amount - sum

simple interest = 15000

15000 =( 75000×rate×5)÷100

rate = 4%

Answer 2

Answer:

r=4%

Step-by-step explanation:

p=75,000

A=90,000

n=5

r=?

formula:

A=p(1+r*n/100)

95000=75000(1+5r/100)

r=4%