Solution:-

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❍ Here, the question has given us the S.I, PRINCIPAL and TIME that are ₹600, ₹10,000 and 3 years respectively. Now, the question has asked us to find out the rate of interest. So, we will apply the formula of Simple Interest to FUND the rate of interest.

ANSWER:-

• The rate of interest is 2%.

GIVEN:-

» Simple Interest = ₹600

» Principal = ₹10,000

» Time = 3 years

TO FIND:-

✰ Rate of interest = ?

FORMULA:-

➛ Simple Interest = P×R×T/100

Where,

• S.I = Simple Interest
• P = Principal
• R = Rate
• T = Time

SOLVING BY APPLYING THE FORMULA:-

❖ Let the rate be R

↣ 600 = 10,000 × R × 3 / 100

↣ Cancelling the zeros.

↣ 600 = 100 × R × 3 / 1

↣ 600 = 300 × R / 1

↣ 600 × 1 = 300 × R

↣ 600 = 300 × R

↣ 600 / 300 = R

➛ 2 = R

Hence, we GOT the answer. The rate of interest is 2%.

TO CHECK:-

P = ₹10,000

R = 2%

T = 3 years

⇨ Simple Interest = P × R × T / 100

⇨ S.I = 10,000 × 2 × 3 / 100

⇨ S.I = 10,000 × 6 / 100

⇨ Cancelling the zeros

⇨ S.I = 100 × 6 / 1

⇨ S.I = 100 × 6

⇨ S.I = 600

Hence, checked. The S.I is Rs.600.

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