Question

If Manohar pays an interest of Rs.630 for 2 years on a sum of Rs.4500, find the rate of
interest.​

Answer 1

Answer:

7% per annum

Step-by-step explanation:

Let the Rate of interest be R.

Simple Interest (SI) = ₹630

Principal (P) = ₹4500

Time (T) = 2 years

SI = PRT/100

=> 630 = 4500 × R × 2/100

=> 630/90 = R

=> R = 7%

Answer 2

Answer:

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