Question

Find the rate of interest when the following are given.
Principal $=Rs350$ Time $=\frac{21}{2}$ years $I=Rs140$

Answer 1

As we know that,

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

Given:-

$S.I.=Rs.140$

$R=?$

$t=\frac{21}{2}\text{years}$

$P=Rs.350$

Therefore,

$140=\frac{350\times R\times \frac{21}{2}}{100}$

$\Rightarrow R=\frac{14000\times 2}{21\times 350}=\frac{80}{21}\%\approx 3.8\%$