Question

A man borrowed Rs. 8000 from a bank. He had to pay Rs. 10880 after 4 years. Find the simple interest. Also find the rate charged by the bank. ​

Answer 1

Step-by-step explanation:

p= 8000

A=10880

t=4 yrs

r= x %

I = prt/ 100

I= 8000×x×4/100=320x

A= p + interest

10880 = 8000+ 320x

2880 = 320x

x= 9%

I = 320× 9= 2880

Answer 2

Answer:

Simple interest=Rs.2880

Rate=9%

Step-by-step explanation:

P=Rs.8000

A=Rs.10880

SI=A-P

=10880-8000=2880

SI=Rs.2880

SI=PRT/100

2880=8000×R×4/100

2880=80×4×R

R=2880/80×4=9

Rate=9%