Question

If interest 1080 Rate 4% per annum and time 3 years then the principal will be
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Answer 1

Step-by-step explanation:

SI for 3 years = 1080

SI for 2 years = (1080×2)/3=720

CI for 2 years = 741.60

So the difference = 741.60−720=21.60

Here 21.60 is the SI on 720/2 = 360 for one year

(i) We know that

Rate = (SI×100)/(P×t)

Substituting the values

= (21.60×100)/(360×1)

Multiply and divide by 100

=(2160×100)/(100×360×1)

= 6%

Hope this helps...

Answer 2

Answer:

6 % is the correct answer