find the rate when principal is ₹700,simple interest is ₹168 for 16months
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Heya user
Here is your answer !!
Principal = Rs 700
Simple Interest = Rs 168
Time = 16 months = 16/12 yrs = 4/3 yrs .
There fore , Rate = (10 × I) /(P× T)
= 100 * 168 / 700 × 4/3
= 24 / 4/3
= 24 * 3/4
= 18 % (Ans)
Hope it helps !!
Here is your answer !!
Principal = Rs 700
Simple Interest = Rs 168
Time = 16 months = 16/12 yrs = 4/3 yrs .
There fore , Rate = (10 × I) /(P× T)
= 100 * 168 / 700 × 4/3
= 24 / 4/3
= 24 * 3/4
= 18 % (Ans)
Hope it helps !!
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