Question

Find the rate of interest, when principal = Rs 7200, simple interest =1944 and time = 3 years​

Answer 1

Answer:

Given, P= Rs. 6000, Amount = Rs. 7200, Time =4 years

S.I. =A−P= Rs. 7200− Rs. 6000

S.I = Rs. 1200

∴ Rate =(

6000×4

1200×100

)%p.a.=5%p.a.

New rate =1.5×5=7.5%p.a.

∴ Required amount = Rs. 6000+ Rs.

100

6000×7.5×5

= Rs. 6000+ Rs. 2250

= Rs. 8250

Answer 2

Given,

Principal = Rs 7200

Simple Interest =1944

Time = 3 years​

To Find,

The Rate of interest =?

Solution,

We can find the rate of interest as follows:

It is given to us that a principal amount of Rs. 7200 has a simple interest of Rs. 1944 in a time period of 3 years. We need to find the rate of interest.

Simple interest is calculated using the given formula:
$S.I. = \frac{P*R*T}{100}$

where $S.I. = Simple\: Interest$

              $P = Principal\: Amount$

              $R = Rate\: of\: Interest$

               $T = Time$

It is given,

$S.I. = Rs. 1944\\Principal = Rs. 7200\\Time = 3\: years$

Substituting the values in the above formula,

$1944 = \frac{7200*R*3}{100}$

$1944 = 216*R$

$R = \frac{1944}{216}$

$R = 9$%

Hence, the rate of interest is 9%.