Question

Rs.442.50 deposited in a bank for 4 years earn an intrest of Rs.84.50 .Find the rate of intrest​

Answer 1

Answer:

4.77%

Step-by-step explanation:

Given :

Principal ( P ) = 442.50

Time ( T ) = 4 years

Simple interest ( SI ) = 84.50

Rate of interest ( R ) = ?

Solution :

SI = ( PTR) / 100

84.50 = ( 442.50 × 4 × R )/ 100

8450 = 1770 × R

R = 8450/1770

R = 4.77%