Question

Find the rate when principal = ₹ 3560, amount = ₹ 4521.20 and time = 3 years.

Answer 1

Given: – P = ₹ 3560, amount = ₹ 4521.20, t = 3 years.

We know that,

SI = A – P

= 4521.20 – 3560

= ₹ 961.2

R = (100 × SI) / (P × T)

= (100 × 961.20)/ (3560 × 3)

= (100 × 96120) / (8250 × 3 ×100)

= (32040 /3560)

= 9% p.a.