Question

nitesh deposites 38000 in a finance company for 3years and received 53870in all as amount after 3 years what was the rate pf simple interest per annual

Answer 1

p=38000 a=53870 t=3 yrs

si = a-p = 53870-38000=15870

r = si *100/pt=15870*100/38000 *3=13.35%pa