If Manohar pays an interest of $Rs 750 for 2 years on a sum of Rs 4500$ , find the rate of interest.

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Solution

Find the rate of interest:
As it is given that, Manohar pays an interest of $Rs 750 for 2 years on a sum of Rs 4500$ ,
Here, $Intrest = Rs 750, Time = 2 years, Principal = Rs 4500$
$I n t r e s t = \frac{P r i n c i p a l \times R a t e \times T i m e}{100} \Rightarrow 750 = \frac{4500 \times R \times 2}{100} \Rightarrow 750 \times 100 = 9000 \times R \Rightarrow R = \frac{75000}{9000} = 8.333 %$
Hence, Rate of Interest is of $8.33 %$ .

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If Manohar pays an interest of Rs750for2yearsonasumofRs4500, find the rate of interest.

Find the rate of interest:As it is given that, Manohar pays an interest of Rs750for2yearsonasumofRs4500, Here, Intrest=Rs750,Time=2years,Principal=Rs4500Intrest=Principal×Rate×Time100⇒750=4500×R×2100⇒750×100=9000×R⇒R=750009000=8.333%Hence, Rate of Interest is of 8.33%.

If Manohar pays an interest of $Rs 750 for 2 years on a sum of Rs 4500$ , find the rate of interest.