At what rate percent per annum will Rs 4500 amount to Rs 5715 in 3 years ?

Given :

Principal $P = Rs. 4500$

Amount $A = Rs. 5715$

Time $T = 3$ years

To do :

We have to find the rate of interest.

Solution :

Let the rate percent be R.

We know that,

$Amount (A) = Principal (P) + Simple Interest (SI)$

$Simple Interest (SI) = Amount (A) - Principal (P)$

                                   $= Rs. (5715 - 4500)$

                                   $= Rs. 1215$

$SI = \frac{PRT}{100}$

Therefore,

$Rs. 1215 = \frac{(4500 \times R \times 3)}{100}$

$Rs. 1215 = 45 \times R \times 3$

$R = \frac{1215}{(45\times3)}$

$R = 9$

The rate percent is 9%. 

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Updated on: 10-Oct-2022

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