Final answer:
To find the simple interest rate that gave Rs 1125 interest on Rs 7500 in 3 years, use the formula Interest = Principal × rate × time and solve for the rate by dividing the interest by the principal and the number of years.
Step-by-step explanation:
To calculate the simple interest accrued on a sum of money, we can use the formula: Interest = Principal × rate × time. In the student's question, the principal amount is Rs 7500, the interest earned is Rs 1125, and the time is 3 years. To find the interest rate, we need to rearrange the formula to solve for the rate.
First, let's write down the formula for simple interest: Interest = Principal × rate × time. We'll plug in the numbers we know: Rs 1125 = Rs 7500 × rate × 3 years. To solve for the rate, we'll follow these steps:
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- Divide both sides by the principal (Rs 7500) and the time (3 years): rate = Rs 1125 / (Rs 7500 × 3)
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- Calculate the division to get the rate.
This will give us the annual simple interest rate that resulted in an interest of Rs 1125 over 3 years on the principal of Rs 7500.