SOLUTION: the interest on Rs3000 for one year is Rs210. what is the interest on RS 4500 for one year.

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Question 717686: the interest on Rs3000 for one year is Rs210. what is the interest on RS 4500 for one year.
Answer by nerdybill(7384) About Me  (Show Source):
You can put this solution on YOUR website!
the interest on Rs3000 for one year is Rs210. what is the interest on RS 4500 for one year.
.
I = PRT
where
I is interest
P is principal
R is rate
T is time
.
From:"interest on Rs3000 for one year is Rs210"
210 = 3000R(1)
210 = 3000R
210/3000 = R
.07 = R
7% = R
.
Now, we can answer:
what is the interest on RS 4500 for one year.
I = PRT
I = 4500(.07)(1)
I = 4500(.07)
I = Rs315