Question

a person borrowed a sum of rupee 20000 for 2yrs on simple interest he had to repay rupees 24800 including interest after 2yrs the rate of interest per annum was ​

Answer 1

Answer:

R=si×100

P×t

Si= amount - principal

24800- 20000

4800

R= 4800×100

20000×2

=24

Step-by-step explanation:

Answer 2

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%