Question

If thr simple interest on ₹3650 after 3 years is ₹1533 then the rate of interest is

Answer 1

P= Rs.3650
SI=Rs.1533
R=r
T=3 years
r= SI × 100/P×T
= 1533×100/3650×3
=7
Rate of interest = 7% per annum
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Answer 2

Answer:

Rate of interest is 14%.

Step-by-step explanation:

Given : If the simple interest on ₹3650 after 3 years is ₹1533.

To find : The rate of interest ?

Solution :

The simple interest formula is given by,

$SI=\frac{P\times R\times T}{100}$

Where, SI=₹1533 is the simple interest

P=₹3650 is the principal

T=3 years is the time

R is the rate of interest

Substitute all the values in the formula,

$1533=\frac{3650\times R\times 3}{100}$

$153300=10950\times R$

$R=\frac{153300}{10950}$

$R=14\%$

Therefore, Rate of interest is 14%.