Question

Find the rate of interest if the simple interest of ₹ 600 for 4 years is ₹ 120.​

Answer 1

Answer:

S.I.= $\frac{P*R*T}{100}$

Let the unknown rate be x

So,

$\frac{600*4*x}{100\\}$= 120

Moving 100 to the other side, we get

600*4*x= 12000

2400*x= 12000

x= 12000/2400

= 5

Therefore x or the rate = 5% per annum

Hope this helps u :)