Question

if 3700 amount to 4620 in 3 years at simple interest find the rate of the interest

Answer 1

920 * 100/3700 * 3 = R
R = 920/111 %
= 8.28 %

Answer 2

SI= 4620
P= 3700
T=3Years
R=?

SI=(PRT)/100
4620=(3700×R×3)/100
4620×100=3700×3×R
(4620×100)/3=3700R
3700R=1540×100
R= 1540/37
R=41.6(Approx)
R=42(after rounding answer)