Question

Principal = Rs. 8800
Simple Interest = Rs. 1056
Number of years = 3
Find the rate.

Answer 1

Answer:

$\frac{ptr}{100} = si$

8800 × 3 × r/ 100 = 1056

r = 1056 × 100 / 8800 × 3

r = 1056 / 88 × 3

r = 12 / 3

r = 4%

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Answer 2

Simple Interest = P×R×T/100. ----------------------> equation 1

Substituting following values in equation 1,

P = 8800

T = 3

S I = 1056

R = ?

We get,

1056 = 8800 × 3 × R / 100

1056 = 26,400 × R /100. ( zeroes are cancelled, that is 26400÷100 = 264 )

1056 ÷ 264 = R

R = 4 %