Question

the C.I on Rs 16000 for 3 years is Rs 6781.25. find the rate per cent per annum.

Answer 1

6781.25=16000×r/100×3
6781.25=160×3×r
6781.25=480×r
6781.25÷480=r
14.1276042=r
Therefore rate =14.1276042%