Question

What rate gives Rs 384 as interest on a sum of Rs 3200 in 3 years ? Also give full explanation.

Answer 1

Answer:

We have,

 P=Rs.56000,

 T=2years,

 SI=Rs.280

 We know that,

SI=100P×R×T

280=10056000×R×2

 R=2×560280

 R=0.25%

 Hence, the value of the rate is 0.25%.

Answer 2

Answer:

4%

Step-by-step explanation:

GIven:

Simple Interest amount = Rs. 384

Principal Amount = Rs. 3200

Time = 3 years

To find: rate of interest ( r )

Formula used : Simple interest = p*r*t where, p= principal amount, r= rate of interest (in percentage), t= time (in years)

So,

S.I = p * r% * t

384 = 3200 * r% * 3

r = [ S.I / p*t ] * 100

r = {384 / (3200*3)} * 100

r = {384 / 9600} * 100

r = 4 % [ Answer ]