Question

find the rate of interest interest on rupees600 for 5 years is rupees 150​

Answer 1

Answer :-   Given :-   Principal = ₹600 Time = 5 years  Simple interest = ₹ 150  To find :-   Rate of interest = ?   Formula :-   Rate of interest = ( Simple interest × 100 ) / ( Principal × Time )  Solution :-   Rate of interest =  = ( Simple interest × 100 ) / ( Principal × Time )  ➡ Rate of interest = ( 150 × 100 ) / ( 600 × 5 ) ➡ Rate of interest = 15000 / 3000 ➡ Rate of interest = 5 %   The rate of interest is 5%   __________________________________  ★ Principal = The amount of sum borrowed          by a person   ★ Time = The time period for which the person borrows the money / principal  ★ Rate of interest = The fixed percentage at which the interest is calculated   ★ Simple Interest = The extra money paid for using the borrowed money    __________________________________