Math, asked by ks621302, 2 months ago

A person borrowed a sum of ₹ 20000 for 2 year on simple interest. he had to repay ₹ 24800 including interest after 2 year the rate of interest per annum was

Answers

Answered by yokeshps2005

17

principle=20000

time=2yrs

amount=24800

simple interest = 20000-24800=4800

equation: principle × rate × time ÷ 100 = simple interest

so, rate = simple interest ×100 / time × principle

rate = 4800×100 / 2×20000= 12

Answer : rate = 12%

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