Find the time period, if the simple interest is Rs.6.75 at the rate of 4.5% on a sum of Rs.300
Question
Find the time period, if the simple interest is Rs.6.75 at the rate of 4.5% on a sum of Rs.300
Solution
To find the time period, we can use the formula for simple interest which is I = PRT/100, where:
I = Interest P = Principal amount (the initial amount of money) R = Rate of interest T = Time period
In this case, we know that:
I = Rs.6.75 P = Rs.300 R = 4.5%
We need to find T. So, we rearrange the formula to solve for T:
T = I * 100 / (P * R)
Substituting the given values:
T = 6.75 * 100 / (300 * 4.5)
Now, calculate the above expression to get the value of T.
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