Question

Rort kept 5000 Euros in a bank at4% rate of simple interest for 3 years ago.
.Identify the Principal amount, rate of interest and Number of years in above situation.​

Answer 1

Step-by-step explanation:

According to question ,

Amount of 5000 is kept for 6 years i.e interest is to be paid for 6 years

And , Amount of 3000 is kept for 3 years i.e. interset is to be paid for 3 years

Let rate of interst per annum be x%

Then According to question

100

x

× (5000×6+3000×3)=2340

Solving we get x=6%