Multiple choice

Find the rate of interest if the interest Rs.$1323$ is earned on Rs.$4200 $for$ 3.5$ years ?

  1. $R=9\%$
  2. $R=10\%$
  3. $R=12\%$
  4. $R=14\%$
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Using the simple interest formula I = (P * R * T) / 100, we have 1323 = (4200 * R * 3.5) / 100. Simplifying this, 1323 = 42 * R * 3.5, which leads to 1323 = 147 * R. Dividing 1323 by 147 gives R = 9.

AI explanation

Use the simple interest formula rearranged to find the rate, where R = (I * 100) / (P * T). Substituting the given values gives R = (1323 * 100) / (4200 * 3.5). The numerator becomes 132300 and the denominator becomes 14700, so dividing them gives a rate of 9%.

Keep practicing — related questions