Answer:
The rate of interest is6.4 %
Step-by-step explanation:
Given : Principal (P) = Rs12500
Total amount (A) = Rs16500.
The time period (t) =5 years
To find : Rate of interest (R) = ?
Solution :
It is given that Principal (P) = Rs. 12500
Total amount (A) = Rs. 16500
The time period (t) =5 years
We have to find rate of interest (R).
We know the formula for simple interest as,
S.I. = A-P
= 16500±12500
= Rs. 4000
Now, to find rate of interest, use the formula for simple interest as
S.I. =
∴
∴ *R
∴
∴
∴R=6.4 %
∴ The rate of interest is6.4 %.
