Question

Shivam borrowed Rs 4800 to start a nursery . Find the rate of simple interest if she returned an amount of Rs 6240 after 3 years.

Answer 1

Answer:

Step-by-step explanation:First we have to find the simple interest. Which is- amount-principle

=6240-4800=₹1440

So now we found the simple interest.

We can find the rate like this

Simple interest = (4800× Rate× 3)÷100

1440(which is simple interest)

1440=(4800×rate×3)÷100

Rate=1440÷(48×3)

=10%

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