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➤ Given :-
Principle :- ₹6400
Total amount :- ₹9800
Time :- 4 years
➤ To Find :-
Rate of interest for the given sum
➤ Formula required :-
★ How to do :-
Here, we are given with principle, total amount and time. We should find the rate of interest. So, first we should find the simple interest by subtracting the total amount and the principle, because to find tye rate of interest the simple interest should be there. Later, we can find the rate of interest by using the given formula.
➤ Solution :-
Simple Interest :-
Now,
Rate of interest :-
The rate of interest of the given sum is 13.28%.
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Some related formulas :-
Simple Interest :-
Principle :-
Time :-
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