Question

​7. Mohit borrowed 24360 from Rohit for
5 years at a certain rate of interest. At the
end of 5 years, he returned 42630 to
Rohit. Find the rate of interest.​

Answer 1

Step-by-step explanation:

P=24360

I=42630 - 24360=18270

t=5

r=(18270×100)÷(24360×5)

=15

The rate of interest is 15%