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Principal = ₹3560, Amount = ₹4521.20 and time = 3 years.

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Asked: 1 year ago2024-02-23T13:00:00+05:30 2024-02-23T13:00:00+05:30In: Interest

Principal = ₹3560, Amount = ₹4521.20 and time = 3 years. Find the rate of interest.

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a) 12%

b) 11%

c) 10%

d) 9%

correct answer: d) 9%

Explanation

Here,
Principal(P) = ₹3560
Amount(A) = ₹4521.20
Time(T) = 3 years
So,
S.I. =\left(Amount-Principal\right)
\therefore S.I. =₹\left(4521.20\;-\;3560\right)
\rightarrow S.I. =₹\ 961.20
We know, Rate =\large\frac{100\times S.I.}{P\times T}
\therefore Rate =\large\frac{100\times96120}{3560\times3\times100} [remove decimal]
\rightarrow\ 9 % p.a.
Ans: Rate 9 % p.a.

Other forms of this specific math question are:
  1. How to find the interest rate per annum when given a principal of ₹3560, an amount of ₹4521.20, and a time period of 3 years?
  2. What is the annual interest rate when the principal is ₹3560, the amount is ₹4521.20, and the time is 3 years?
  3. Finding the rate of interest per annum with a principal of ₹3560, an amount of ₹4521.20, and a duration of 3 years.
  4. How to calculate the rate of interest per annum when the principal is ₹3560, the amount is ₹4521.20, and the duration is 3 years?
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