Question

find the rate of interest if the simple interest of $600 for 4 year is $120​

Answer 1

simple interest =p×r×t/100

simple interest =p×r×t/100600=4000×3×r/100

simple interest =p×r×t/100600=4000×3×r/100r=5%

Answer 2

Answer:

Given:

Principal Amount = Rs.600

Number of years = 4 years

Rate, R1 = 5%

Rate, R2 = 10%

Formula used:

S.I = (P × N × R)/100

Calculation:

Here, difference between simple interest = [(P × N × R2)/100] - [(P × N × R1)/100]

⇒ (P × N) × (R2 - R1)/100

⇒ (600 × 4) × (10 -5)/100 = 120

∴ The difference between simple interests = Rs.120