Question

The amount oRs.4500 for 5 ye is 8550 8550. Find the interest and the rate of interest​

Answer 1

Explanation:

We have;

P = 4500

A = 8550

T= 5 years

I= ?

R=?

We know,

A= P+I

or, 8550=4500+I

∴I=8550-4500= 4050

Now, I= PTR/100

Or, 4050= (4500*5*R)/100

Or, 4050=45*5*R

Or, R= 4050/225

∴R= 18%