Question

Rohit borrowed 4500 rupees and returned 5715 rupees after 3 years. Calculate the rate of interest per annum that he paid.​

Answer 1

Answer:

✨ 9 % p.a.

Step-by-step explanation:

Principal = 4,500 rupees

Time = 3 years

Amount = 5,715 rupees

Amount = Principal + Simple Interst

5,715 = 4,500 + Simple Interest

Simple Interest = 5,715 - 4,500

= 1,215 rupees

1215 = 4500 x 3 x Rate / 100

Rate = 1215 x 100 / 4500 x 3

Rate = 121500 / 13500

Rate = 9

So, the rate of interest is 9 % p.a.

Answer 2

Answer:

9 % p.a.

Step-by-step explanation:

Principle = 4,500 rupees

Time = 3 years

Amount = 5,715