# To find Rate when Principal Interest and Time are given

To find Rate when Principal Interest and Time are given the rules are.

Interest = (Principal × Rate × Time)/100

Rate = (100 × Interest)/(Principal × Time)

Examples to find Rate when Principal, Interest and Time are given:

1. Find Rate, when Principal = $3000; Interest =$ 400; Time = 3 years.

Solution:

Principal = $3000, Interest =$ 400,

Time = 3 years.

Rate = (100 × Interest)/(Principal × Time)

= (100 × 400)/(3000 × 3)

= 40000/9000

= 4.44 %

Therefore, Rate = 4.44 %.

2. Find Rate, when Principal = $2100; Interest =$ 350; Time = 2 years.

Solution:

Principal = $2100, Interest =$ 350,

Time = 2 years.

Rate = (100 × Interest)/(Principal × Time)

= (100 × 350)/(2100 × 2)

= 35000/4200

= 8.33 %

Therefore, Rate = 8.33 %.

3. Find Rate, when Principal = $10000; Interest =$ 800; Time = 5 years.

Solution:

Principal = $10000, Interest =$ 800,

Time = 5 years.

Rate = (100 × Interest)/(Principal × Time)

= (100 × 800)/(10000 × 5)

= 80000/50000

= 1.6 %

Therefore, Rate = 1.6 %.

4. Richard deposits 5400 and got back an amount of 6000 after 2 years. Find Richard's interest rate.

Solution:

Amount deposited by Richard = 5400

He received the amount of money after 2 years = 6000

Simple Interest = 6000 – 5400 = 600

Principal = $5400 Interest =$ 600,

Time = 2 years.

Rate = (100 × Interest)/(Principal × Time)

= (100 × 600)/(5400 × 2)

= 60000/10800

= 50/9

= 5.555….

= 5.56 %

(Nearest to two decimal place)

Therefore, Rate = 5.56 %.

● Simple Interest.

Word Problems on Simple Interest.

In Simple Interest when the Time is given in Months and Days.

To find Principal when Time Interest and Rate are given.

To find Rate when Principal Interest and Time are given .

To find Time when Principal Interest and Rate are given.

Worksheet on Simple Interest.

Didn't find what you were looking for? Or want to know more information about Math Only Math. Use this Google Search to find what you need.

## Recent Articles 1. ### Rupees and Paise | Paise Coins | Rupee Coins | Rupee Notes

Dec 04, 23 02:14 PM

Money consists of rupees and paise; we require money to purchase things. 100 paise make one rupee. List of paise and rupees in the shape of coins and notes:

2. ### Months of the Year | List of 12 Months of the Year |Jan, Feb, Mar, Apr

Dec 04, 23 01:50 PM

There are 12 months in a year. The months are January, February, march, April, May, June, July, August, September, October, November and December. The year begins with the January month. December is t…