Question

If rs.3750 amount to rs.4620 in 3 years at simple interest. find the rate of interest?

Answer 1

GIVEN
A-AMOUNT
P-PRINCIPAL
T-TIME
I-INTEREST
R-RATE

IN FIRST CASE
A=4260
P=3750
I=870
T=3YEARS
R=100*I/P*T
R=100*870/3750*3
R=7.73

IN SECOND CASE
P=7500
T=11/2
R=7.73
I=P*R*T/100
I=(7500*(11/2)*7.73)/100
I=1594.3125
A=P+I
A=7500+1594.3125
A=9094.3125

Answer 2

put it in the formula a= p( 1+ r/100)to the power n