Question

The sum of rupees 12500 amount 2 rupees 15500 in 4 years at the rate of simple interest what is the rate of interest

Answer 1

Given:

Amount (A)= ₹ 15500
Principal (P)= ₹ 12500
Time (T)= 4 years
Rate of interest (R)= ?

We have to find simple interest (S.I) first

S.I = A-P = ₹15500- ₹12500=₹ 3000

FORMULA used:
S.I=( P × R× T) /100

3000=( 12500× R× 4)/100

3000= 125×4×R

R= 3000/ 125×4

R= 6%
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Hence the rate of interest (R) = 6%
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Hope this will help you.....