A trader paid Rs 900 /- as simple interest for 3 years on the sum of Rs 4500/- Borrowed by him. find the rate of interest.
Sign Up to our social questions and Answers Engine to ask questions, answer people’s questions, and connect with other people.
Login to our social questions & Answers Engine to ask questions answer people’s questions & connect with other people.
Step-by-step explanation:
see this pic
hope this helps u
pls mark me as brainliest
Answer:
6⅔ %
Step-by-step explanation:
Let the Rate of interest be R.
Principal (P) = Rs.4500
Simple Interest (SI) = Rs.900
Time (T) = 3 years
SI = PRT/100
=> 900 = 4500 × R × 3/100
=> R = 20/3 %
=> Rate = 6⅔ %