Question

if manohar pays an interest of 850for 5 years on a sum of 7500 find the rate of interest ​

Answer 1

Answer:

Step-by-step explanation:

p = Rs. 7500

n = 5 yrs

I = Rs.850

rate of interest (r) =  (100 x I) / (p x n )

                            = (100x 850) / ( 7500 x 5)

                            = 2.27 %