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5 July, 16:10

A sum lent out at simple interest becomes rs4480 in 3 years and rs 4800 in 5years. find the rate of interest

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  1. 5 July, 17:42
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    Answer: rate = 4%

    Step-by-step explanation:

    SI = 4800 - 4480 = 320 for two years

    For 1 year, it is 320/2 = 160

    For 5 years, it is 160 * 5 = 800

    Principal = Amount - SI

    P = 4800 - 800 = 4000

    SI = prt / 100

    800 = (4000 * r * 5) / 1000

    r = 800 * 100 / 4000 * 5

    r = 4%
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