Question

if Principal =Rs 6400, time = 1st April 2006 to 25th Aug 2006.
Interest =Rs 1600, Find the rate....

Answer 1

Answer:

Total time = 30+31+30+31+25 = 147 days

Let rate is r% then

Interest =

$interest = \frac{p \times r \times t}{100}$

$1600 = \frac{6400 \times r \times 147}{100 \times 365}$

$64 \times 147 \times r = 1600 \times 365$

$r = \frac{1600 \times 365}{64 \times 147} = 62.075\%$