Question

If $ 3750 amount to $ 4620 in 3 years at simple intrest , the rate of intrest is

Answer 1

interest earned is 4620 - 3750 which is 870
now let interest rate be X
870= 3750×3×X/100
So X = 870×100÷(3750×3)
X = 7.733
ps. answer will be approximate and not tk the point at rate is 7.733333.....

Answer 2

Given that : Principal = $ 3750

Amount = $ 4620 and

Time = 3 years

As we know that : Interest = Amount - Principal

Interest = 4620 - 3750 = $ 870

Now,
$870 = \frac{3750 \times 3 \times r}{100} \\ \\ = > r = \frac{87000}{3750 \times 3} \\ \\ = > r = 7.73$

So, the rate of interest will be 7.73%