If Sudha pays an interest of ?750 for 2yrs on a sum of ?4500 find the rate of interest

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Solution

Dear Student,
$S i m p l e I n t e r e s t = \frac{P r i n c i p l e \times R a t e \times T i m e}{100} 750 = \frac{4500 \times R a t e \times 2}{100} R a t e = \frac{750 \times 100}{4500 \times 2} = \frac{75}{9} = 8.33 %$

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If Sudha pays an interest of ?750 for 2yrs on a sum of ?4500 find the rate of interest

Dear Student, Simple Interest=Principle×Rate×Time100750=4500×Rate×2100Rate=750×1004500×2=759=8.33% Regards

Dear Student,
$S i m p l e I n t e r e s t = \frac{P r i n c i p l e \times R a t e \times T i m e}{100} 750 = \frac{4500 \times R a t e \times 2}{100} R a t e = \frac{750 \times 100}{4500 \times 2} = \frac{75}{9} = 8.33 %$

Regards