Question

At what rate percent p.a. will Rs. 3600 amount to Rs. 4734 in 3.5 years?

Answer 1

Answer :

Given : Principle amount = Rs . 3600

Time year = 3.5 year

Interest = 4734 - 3600 = Rs .1134

We know : Simple interest = $\frac{P\times r\times t}{100}$ , So

$$\begin{gathered} \frac{3600\times r\times 3.5}{100}=1134 \\ \Rightarrow \frac{36\times r\times 3.5}{1}=1134 \\ \Rightarrow 126r=1134 \\ \Rightarrow r=\frac{1134}{126} \\ \mathbf{\Rightarrow }\mathit{r}\mathbf{}\mathbf{=}\mathbf{9} \end{gathered}$$

Therefore,

Interest rate = 9% ( Ans )