Question

the rate percent per annum is Rs 700 rupees 105 interest in 3 years please give answer in simple interest

Answer 1

Amount (P) = 700

Interest is 105 for 3 years. We know that In simple interest,interest will be same in all years

Therefore Interest for 1 year = 105/3 = 35

If the interest rate is x

Then

X = (35x100)/700 = 5 %