here is it....first of all whats the formula for finding SI (simple interest)?
it is p∗r∗t100
so in this we will place everything int heir place and solve!
now SI= Amount - Principal
so SI = 688 - 500
therefore SI =188
now lets place everything
Lets take rate to be 'r'
188=500∗r∗4100
now divide or cut 500 by 100 and multiply by 4
so that gives us
188=20r
now divide 20 by 188 to get r
18820=r
divde!
475=r
9.5=r
so the rate is 9.5%
to check the answer you can put 9.5 in rate's place and get 188...its correct!
any doubt?



