A money lender lends $R s 14, 000$ for $3$ years to get a interest of $R s 2310$ . At what rate percent p.a. did he charged the interest?

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Solution

$I = p r t$
$2310 = 14000 \times r \times 3$
$2310 = 42000 \times r$
$\frac{2310}{42000} = r$
$0.055 = r$
$55 % = r$

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A money lender lends Rs 14,000 for 3 years to get a interest of Rs 2310. At what rate percent p.a. did he charged the interest?

I=prt2310=14000×r×32310=42000×r231042000=r0.055=r55%=r

A money lender lends $R s 14, 000$ for $3$ years to get a interest of $R s 2310$ . At what rate percent p.a. did he charged the interest?

$I = p r t$
$2310 = 14000 \times r \times 3$
$2310 = 42000 \times r$
$\frac{2310}{42000} = r$
$0.055 = r$
$55 % = r$