Question

If Aarohi pays an interest of rs 75 for 2 years on a sum of rs 4500,find the rate of interest.

Answer 1

Step-by-step explanation:

we have,

SI. = ₹75 ,T = 2yrs and ,P= ₹4500

Rate = SI . 100/P . T

= 100× 75/ 4500 ×2

= 75/90 = 5/6

Hence, rate of % = 5/6%