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?
Answers
Answered by
5
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%
Answered by
7
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 %
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