Question
At what rate percent per annum will a sum of Rs 5000 amount to Rs 5750 in 3 years at simple interest?
Solution
P = 5000, A = 5750, T = 3 years Simple Interest SI = A − P = 5750 − 5000 = 750 Rate R = (SI × 100) / (P × T) = (750 × 100) / (5000 × 3) = 75000 / 15000 = 5% Answer: 5% per annum.
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