Question

Sum amounts to ₹900 in 3 yrs and ₹ 1080 in 4 yrs at CI.
What is the rate of CI pa?
Please solve this with explanation ​

Answer 1

Answer:

5%

Step-by-step explanation:

if we take 900 as principle/sum

and 1080 as the compound amount,

then the time will be 1 yr

since the time is 1 yr, we can also use simple interest

si= amount-principle

si=1080-900

SI=180

SI=PTR/100

180=900×1×R/100

R= 180/9×4

R= 5%

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