If a sum of money amount to RS.2175 in 3 years to RS.2625 in 5 years then find the rate of interest?
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2
Answer:
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Answered by
2
Answer:
15%
Explanation:
SI in t years,
in 0 years=0
in 3 yrs= 2175
in 5 years=2625
in 2 yrs(5-3) =2625-2175=Rs. 450
difference of 0 and 3 (3-0) we get 3 years so,
SI in 3 years=450/2 *3=Rs. 675
Principal amount= 2175-675=1500
so again,
R=(I*100)/(P*T)
R=15%
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