Question

If 3750 amount to 4620 in 3 years at simple interest.the rate of interest is

Answer 1

Answer:

Step-by-step explanation:

A = Rs. 4620

P = Rs. 3750

I = A – P = Rs. 4620 – Rs. 3750 = Rs. 870

T = 3 years

R = (100 × I)/(P × T) = (100 × 870)/3750 = (4 × 29)/15

= 116/15 = 7. 11/15%