if manohar pays an interest of rs 720 for 2 years on a sum of rs 4,500 find the rate of interest
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Answer:
Principal ( p ) = Rs 4500
Interest ( I ) = Rs 750
Time ( t ) = 2 years
Rate of interest = r %
Ptr / 100 = I
r = ( 100 × I ) / pt
= ( 100 × 750 ) / ( 4500 × 2 )
= 750 / 90
= 50 / 6
r = 25 / 3 %
Step-by-step explanation:
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S.I=A +P
so A=S.I -P
r =8%
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