Question

a
1. Ayush paid 3 8432 for a loan of 8000 taken
for 219 days. Find the rate of simple interest
charged by the bank.
​

Answer 1

Answer:

Principal = Rs 8000

Amount = Rs 8432

Simple Interest = Amount - principal =Rs(8432-8000)= Rs 432

Time =219 days = 219/365 Days

Let Rate of Interest be r percent.

Simple Interest From the given data = $\frac{8000*r*219}{100*365}$ = 48r

Therefore, 48r=432

r =9 %

Hope this will help u.