At what simple interest rate per cent will3000 amount to? 5000 in 6 ye – InterviewSolution

1.

At what simple interest rate per cent will3000 amount to? 5000 in 6 years and 8months?

Answer»

8 months = 8/12 = 2/3 years so, total years = 6+2/3 = 20/3 years

now principle is = 3000 and amount is = 5000S.I = A-P = 2000 = P*R*T/100

=> 2000 = 3000*(R)*(20/3)/100=> R = 2000*100*3/(3000*20) = 10%

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