Find rate, when principal $=$ Rs. $3000$ ; interest $=$ Rs. $400$ ; time $= 3$ years.

1.11 %

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2.22 %

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3.33 %

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4.44 %

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Solution

The correct option is D $4.44 %$
Given, Principal $=$ Rs. $3000$ , interest $=$ Rs. $400$ , time $= 3$ years
We know the formula,
Rate of interest, $R =$ $\frac{I \times 100}{P T}$
$R =$ $\frac{400 \times 100}{3000 \times 3}$
$R = 4.44 %$

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Find the compound interest when Principal is $R s . 3000$ , rate is $5 %$ per annum and time is $2$ years.

= 10

3000

= 5 %

7 \frac{1}{2} %

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