Question

find the rate percent per annum at simple interest when

Answer 1

Hi...!

Given are :

Principal = Rs 340

Amount = Rs 467.50

Thus, S.I = A - P = 467.50 - 340.00 = Rs 127.50

Time = 6 years 3 mnths = 6 years 3/12 months = 6 years 1/4 months = 25/4 years.

Using formula , Rate = SI * 100 / T * P = 12750*100*4/100*25*340=5100000/850000=6% p.a

Answer : Hence, rate % = 6% Per Annum .