Question

1) If Manohar pays an interest of Rs. 750 for 2 years on a sum of Rs. 4500, find the rate of interest.
2) What sum of money lent out at 16 percent per annum simple interest would produce Rs 9600 as interest in 2 years?

Answer 1

ANSWER ⬇️

Step-by-step explanation:

$Rate \: of \: interest(R) \: = > \: 100I \div PT$

Where I = interest , R =rate , p = principal ,

t = time

R = (100×750)/(4500×2)

R = 75000/9000

R = 8.33%.

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Answer 2

Answer:

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