Question

A deposit of Rs 1000 amounts to Rs 1320 in 4 years.Find the interest on Rs 100 for 1 year(or rate%).

Answer 1

420 is answer because

Answer 2

Principle amount= RS 1000
Total Amount=RS 1320
∴Interest=A-P
               =RS 1320-RS 1000
               =RS 320
Time=4 years
Using formula,
R=100*I/P*T
  =100*320/1000*4
  =1*32/1*4
  =32/4
  =8 percent
Next case,
 P=RS 100
T=1 year
R=8 percent
∴I=P*R*T/100
   =RS 100*8*1/100
   =RS 8 
Solved