at what rate percent per annum will rs 1625 amount to rs 2080 in 31/2 years
Mathematics · High School · Thu Feb 04 2021
llm
Answered on
Given that
principal = Rs 1625
amount = Rs 2080
time = 3 whole 1/2 = 7/ 2 yr = 3.5 yr
Find the interest
S.I = ( p × r × t ) / 100
S.I = 1625 × r × 3.5 / 100 = 5687.5 r / 100
= Rs 56.875r
solve for 'r' :
amount = principal + S.I
2080 = 1625 + 56.875r
56.875 r = 2080 - 1625 = 455
56.875 r = 455
56875 r / 1000 = 455
56875 r = 455000
r = 8 %