Question

What is the formula of finding rate of interest in simple int?

Answer 1

Answer:

Rate=S.I x 100/Principal x Time

Answer 2

$\bf R= \frac{S.I. \times 100}{P\times T}$

Question: Write the formula of rate of interest in simple interest.

Solution:

If the principal amount is 'P',

The rate of interest is 'R' %and

The time in years is 'T'.

Let the simple interest is 'SI',

We know that

$\boxed{\text{Simple Interset }= \frac{P \times R \times T}{100} }$

so,

$\bf R= \frac{S.I. \times 100}{P\times T}$

Let us take an example:

What is the rate of simple interest if ₹10000/- will be 11500 after 3 years.

It is clear that

$P= 10000$

$SI=11500-10000$

or

$SI=1500$

and

$T= 3 \: years$

So,

$R= \frac{1500\times 100}{10000 \times 3}$

or

$R = 5\%$

Thus,

Formula of rate in simple interest :

$\bf R= \frac{S.I. \times 100}{P\times T}$

Learn more:

1) Find simple interest on Rs 1000 for 2 years at 8% per annum

https://brainly.in/question/14973024

2) What sum of money will earn Rs. 700/- as simple interest in 1 year at 5 % per annum?

https://brainly.in/question/48483858

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