Question

years at 1% per annum (p.a.).
2

4. At what rate will the principal of 2000 yield an interest of 112.50 in 15 months?​

Answer 1

Answer:

Interest = ptr/100

112.50 = 20*1.3*r /100

112.50 = 26r

r = 112.50 / 26

So, r = 4.3 %