alishajirel430
alishajirel430 alishajirel430
  • 26-05-2021
  • Mathematics
contestada


At what rate percent per annum will a sum of Rs 4500 amount to Rs 5445
in 3 years?​

Respuesta :

Adetunmbiadekunle Adetunmbiadekunle
  • 31-05-2021

Answer:

7% per annum

Step-by-step explanation:

Mathematically, we have t he formula for simple interest as;

I = PRT/100

I is the interest which is the difference between the amount deposited and the amount withdrawn

That would be 5445 - 4500 = 945

R is the rate which we want to calculate

T is the time which is 3 years

Thus, we have ;

R = 100I/PT

R = (100 * 945)/(4500 * 3)

R = 7%

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