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Last updated at Nov. 6, 2018 by Teachoo

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Example 21 If Manohar pays an interest of Rs 750 for 2 years on a sum of Rs 4,500, find the rate of interest? I = Rs 750 T = 2 years P = Rs 4500 R = ? Now, I = ๐๐ ๐/100 750 = (4500 ร ๐ ร 2)/100 750 = 45 ร 2R 45 ร 2R = 750 R = 750/(45 ร 2) R = 375/45 R = 125/15 R = 25/3 R = 8 1/3 % p.a So, rate of interest is 8 ๐/๐ % p.a

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About the Author

Davneet Singh

Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 9 years. He provides courses for Maths and Science at Teachoo.