Question

A person borrowed a sum of 20000 for
2 yr on simple interest. He had to repay
*24800 including interest after 2 yr. The
rate of interest per annum was?​

Answer 1

Step-by-step explanation:

4800 interest

si=(amount * rate* time)/100

4800=(20000*rate*2)100

4800=(40000*rate)/100

4800=rate * 400

rate=4800÷400

rate= 12%

Answer 2

Answer:

12 %

Step-by-step explanation:

Amount = ₹ 24800

Principal = ₹ 20000

SI = Amount - Principal

= 24800 - 20000

= ₹ 4800

Rate of interest = SI × 100/P × T

= 4800×100/20000×2 = 12 %