Question

21) Morgan has an investment worth Rs.130,000 after 20 years. If his original investment was for Rs.50,000 what must the interest rate have been?​

Answer 1

Step-by-step explanation:

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Answer 2

Step-by-step explanation:

principal= Rs 50000

amount= Rs 130000

therefore, Simple intrest= Rs 80000

let rate be r

A/Q,

rs 50000*20yrs*r/100% = Rs 80000

=> r= 8%/yr

=> r= 8% p. a.