Question

8.Interest on a sum of Rs 8000 for 2 years is Rs 800. Find rate of interest.
a)4.5%
b)5.5%
C) 5%
d) None​

Answer 1

$SI=\frac{PRT}{100}$

where P = Principal amount i.e. Rs.8000

R = Rate of interest that we have to find.

T = Time

SI = Interest

$=>800=\frac{(8000)(R)(2)}{100}$

$=>800=160R$

$=>R=\frac{800}{160}$

∴ Rate of interest = $\texttt{\large{5}}$%