Question

What is the rate of interest if we pay rupees 3000 for 30000?

Answer 1

Given

Principal Amount = 30000

Interest Amount = 3000

we know that the rate of interest

=( Interest Amount/ Principal Amount )× 100

= (3000/30000)×100

=300000/30000

= 10 % is the interest rate

=

Answer 2

Rate of Interest =( Interest Amount / Principal ) × 100 (3000/30,000) × 100 = 10%