A sum of ₹ 9800 gives simple interest of ₹ 4704 in 6 years. What will be the rate of interest per annum?
Given, Principal = Rs.9800
Simple Interest = Rs.4704
Time period = 6 years
Let the rate of interest be R%
$$\dfrac{9800\times R\times6}{100} = 4704$$
=> $$R = 8$$
Therefore, Rate of interest = 8%
Create a FREE account and get:
Detailed syllabus & Topic-wise Weightage
By proceeding you agree to create your account
Free CAT Syllabus PDF will be sent to your email address soon !!!
