If the interest on a sum of Rs 5250 for a year is Rs 420, what is the rate percent of interest per annum?

Asked by Topperlearning User | 4th Jun, 2014, 01:23: PM

Expert Answer:

Rate percent per annum means interest given on Rs 100 for a year

Let the interest for Rs 100 per annum be Rs x .

Principal : Principal :: Interest : Interest

5250 : 100 :: 420 : x

Product of extreme terms = 5250x

Product of the middle terms =

Hence, percent rate of interest per annum is 8%

Answered by  | 4th Jun, 2014, 03:23: PM