The 2 ft side length of the scale drawing corresponds to a side length of 120 feet for the actual skate park. What is the scale
2 answers:
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18 inches
The annual rate of interest per year is 8%
<u>Solution:</u>
Given:- Principal (p) = 4600 rupees, Time –Period (t) = 5 years, Total amount(A) = 6440 rupees
First we will calculate the Interest and then using formula of simple interest we will calculate the rate of interest
Interest = Amount – Principal
Interest = 6440 – 4600 = 1840
Now using the formula of simple Interest and on putting values we get,
Where "P" is the principal and "R" is the rate of interest per annum and "T" is the time period
Hence, the required rate of interest per year is 8%