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 charges by the bank.
Answers
Answered by
0
Answer:
SI =₹2880
RATE = 9% p.a
Step-by-step explanation:
Principal = ₹8000
Amount = ₹10880
Time = 4 years
Amount = Principal + SI
Hence , 10880 = 8000 + SI
SI = 10880 - 8000
SI = ₹2880
Rate = (100×SI) ÷ (P×T)
= (100×2880)÷(8000×4)
= 288000 ÷ 32000
= 288÷32
= 9
Hence, Rate = 9% p.a
Answered by
2
Answer:
simple interest=amount-principal=10880-8000=
RS 2880
rate=si×100/p×t=2880×100/8000×4= 9%
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