Question

Find the rate of interest when the following are given.
Principal $=Rs9600$ Time $=6$ years $I=Rs72$

Answer 1

As we know that,

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

Given:-

$S.I.=Rs.72$

$R=?$

$t=6\text{years}$

$P=Rs.9600$

Therefore,

$72=\frac{9600\times R\times 6}{100}$

$\Rightarrow R=\frac{7200}{9600\times 6}=\frac{1}{7}\%\approx 0.14\%$