Answer: 3%
Step-by-step explanation:
S.I = ptr / 100
Interest = 4515 - 4500
Interest = 15
time = 4 months = 4/12 years = 1/3 years
substituting each value into the equation to find rate , we have
15 = 4500 x 1/3 x r / 100
1500 = 4500 x 1/3 x r
3(4500) = 4500r
r = 3(4500) / 4500
r = 3%
