Question

Principal - ₹ 450
Rate of interest per annum- 4.5%
Time period- 3 years 4 months
Find simple interest and amount

Answer 1

Step-by-step explanation:

it is given that the simple interest on an amount of Rs.6300

is Rs.2100

and the time is 4

years.

S.I=P×R×T100

……..eq(1)

Where S.I is the simple interest, P represents the principal amount and T is the time. So we have to find the value of R, which is the rate of interest.

In the question, it is given that

S.I=Rs.2100

P=Rs.6300

T=4years

On putting these values in eq(1), the following results will be obtained.

S.I=P×R×T100⇒2100=6300×R×4100

⇒R=2100×1006300×4

⇒R=10012

⇒R=8.34%