At what rate will 6250 amount to 7000 in 4 years? – InterviewSolution

1.

At what rate will 6250 amount to 7000 in 4 years?

Answer»

<P>P = 6250

A = 7000

T = 4years

SI = A - P = 7000 - 6250 = 750

T = SI ×100/P × T

= 750 ×100/6250 × 4

= 750 × 25/6250

= 750/250 = 3%

Rate = 3%

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