Question

If 2500 amounted to 3500 in 4 years at simple interest. Find the rate at which interest was charged

Answer 1

Answer:

35%

Step-by-step explanation:

$Principal = 2500\\\\Simple\:Interest = 3500\\\\Time = 4 \:years\\\\Rate = ?\\\\Rate = \frac{100 \times Simple \: Interest }{Principal \times Time}\\\\Rate = \frac{100 \times 3500}{2500 \times 4} \\\\Rate = \frac{350000}{10000}\\\\ Rate = 35 \%$

$S.I = \frac{PRT}{100}\\\\ 100S.I = PRT\\\\\frac{100S.I}{PT} = \frac{PRT}{PT} \\\\\frac{100S.I}{PT} = R$

Answer 2

Answer:

35%

Step-by-step explanation:

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