Question

principal ₹450,Rate of Intrest______, time period 31/2 years , Simple intrest ₹189, Amount ______
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Answer 1

Step-by-step explanation:

Solution,

Principal (P) = Rs 450

Time (T) = 31/2 OR 15.5 yrs

Simple Interest = Rs 189

Rate = ?

Principal = ?

We know,

Interest = P × T × R

100

or, Rs 189 = 450_×_15.5_×_R

100

or, 189 × 100 = 6975R

or, _18900_ = R

6975

or, 2.70 = R

Therefore,

The rate of interest is 2.70%.

Now,

Amount = Principal + Interest

= Rs 450 + Rs 189

= Rs 639

Hence,

The required amount is Rs 693

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