Question

At what rate of simple interest $Rs.4500$ will become $Rs.5040$ after $2$ years?

Answer 1

$P=4500$
$SI=5040$
$T=2Years$
$R=?$
$SI=P\times R\times T/100$
$5040=4500\times R\times 2/100$
$5040=45\times R\times 2$
$5040=90\times R$
$\frac{5040}{90}=R$
$56$