Question 96

At what rate simple interest will Rs.4800 amount to Rs. 6480 in a span of 7 years ?

Solution

Let' s say rate of simple interest is R

Hence, according to the question $$4800 \times \frac{R}{100} \times 7 = (6480-4800)$$

Now from the above equation we will find the answer as 5

Create a FREE account and get: