SOLUTION: At what rate will rupees 7200 fetch a simple interest of rupees 3024 in 4 years?

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Question 1019203: At what rate will rupees 7200 fetch a simple interest of rupees 3024 in 4 years?
Answer by addingup(3677) About Me  (Show Source):
You can put this solution on YOUR website!
amount of interest = capital*rate*time
3024 = 7200*r*4 divide both sides by 4*7200
3024/28800 = 0.105 Multiply times 100 (percent from per centum meaning per one hundred)and you get 10.5%
So 10.5% interest is your answer