A man invests Rs 9000 at simple interest for 2 years at 3R% per annum. If the total interest received is Rs 5400, find the value of R.

Explanation

​ Information Given: Principal (P) = Rs 9000 Time (T) = 2 years Rate = 3R% per annum Simple Interest (SI) = Rs 5400 Concept/Formula Used: SI = (P × R × T) / 100 Explanation: Rate = 3R% Applying formula: 9000 × 3R × 2 SI = 100 ​ ​ 9000 × 6R =>5400 = ​ 100 ​ => 5400 = 9000 × 0.06R www.freshersnow.com => 5400 = 540R => R = 5400 ÷ 540 => R = 10