Question

Find the rate per cent per anum when Rs 700 yields Rs 210 in 3 years?

Answer 1

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Answer 2

Rate of interest = 10 % per annum  when Rs 700 yields Rs 210 in 3 years

Step-by-step explanation:

Amount P = Rs 700

Rate of interest = R  

Time = T = 3 Years

Yield = Rs 210

=> Simple interest = Rs 210

Simple interest = P * R * T /100

=> 210 = 700 * R * 3 /100

=> 210 = 21 * R

=> 10 = R

=> R = 10

Rate of interest = 10 % per annum

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