What rate per annum will Rs 6360 yield an interest of Rs 1378 in 2 1/2 years
Answers
Answered by
12
Answer:
8.67 percent. Simple interest can be found out by multiplying the Principal amount with the rate of interest and the time period for the interest to accrue.
In the given example, the principal amount id Rs. 6360 and the interest needed is Rs. 1378 over a period of two and a half years. therefore, we can frame the equations as 100*1378/(6360*2.5) which comes to 8.67.
Explanation:
Similar questions