Question

5. Find the rate of interest when:
(ii) 300 amounts to 400 in 2 years.​

Answer 1

Answer:16.66%

Step-by-step explanation:

First of all I am assuming it as a problem of simple interest as you didn't mentioned otherwise.

Let us assume the rate of interest is a%

Now total interest in 2 years = 100

We know, I=PRT/100   ( I= Total interest ; P= Principal ; T= Time in years)

So, 100=300×a×2/100

      10000=600a

       a= 10000/600= 16.66

So, your answeer is 16.66%