Question

At what rate percent per annum will $Rs.6300$ yield an interest of $Rs.2100$ in $4$ years?

Answer 1

The principle is given as $Rs6300$ and the simple interest is given as $Rs2100$ with time as $4$ years.

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

$2100=\frac{6300\times R\times 4}{100}$

$R=\frac{2100\times 100}{6300\times 4}$

$R=8.34\%$