Question

A person deposited ₹4000 in simple interest rate for 2 months. If he gets ₹60 as interest, what is the rate int

Answer 1

Answer:

rate of interest is 9%

Step-by-step explanation

SI = pnr/100

given ,

SI=60

p=4000

n=2 months =2/12=1/6 year

r=?

let r be X

60= 4000*1*X/(6*100)

X=60*600/4000

X=36000/4000

X=9%