Question

At what rate percent per annum simple interest will $Rs.66000$ amount to $Rs.72720$ in $2$ years?

Answer 1

Principal,P = Rs. 66,000

Time,T = 2 years

S.I. = 72,720 - 66,000 = Rs. 6,720

Rate,R = ?

$\therefore$ S.I. = $\frac{P\times R\times T}{100}$

$\Rightarrow$ R = $\frac{6720\times 100}{66,000\times 2}$

$\Rightarrow$ Rate = $5.09$% per annum