Question

II. At what rate will 2500 fetch an interest of 300 in 5 years? ​

Answer 1

Answer:

Hence, the Rate is 3% p.a.

Step-by-step explanation:

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Answer 2

Given: principal = 2500

            time = 5 years

           interest = 300

We have to find the rate

We will use the formula of simple interest  

Simple interest = ( p × r × t)/100

                   300 = ( 2500 × r × 5)/100

                300 × 100 = 12500 × r

                                r = 30000/12500

                                r = 2.4

Hence, at the rate of 2.4% , 2500 fetch an interest of 300 in 5 years