At what annual rate of interest woluld Rs. 780 amount to Rs. 1,320 in 2 years and 3 months.
Principal = Rs. 780
Amount = Rs. 1,320
Simple Interest (I) = Rs, 1,320 – 780 = Rs. 540
Time = 2 – 3/12 = 2.25
Rate = I x 100 / P x t = 540 x 100 / 780 x 2.25 = 30.77%