Question

Princpal:4,900
Interest:Rs 1911
Time:15 years

Answer 1

Given,

Principal (P) = ₹4900

Rate of interest (R) = R

Time = 15 years

Interest Amount = ₹1911

To find,

The rate of interest

Solution,

S.I = PRT/100

= 4900 × R × 15/100

= 49 × R × 15

= 735R

Given Interest = 1911

736R = 1911

R = 1911/735

R = 2.6%

Therefore, the rate of interest is 2.6%

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