Question

A sum becomes 23/20 of itself in 2 years . the rate is ​

Answer 1

Step-by-step explanation:

Here Principal = 20

Amount = 23

Interest = 23 - 20 = 3

Let rate of interest is r.

Using formula

$\frac{p \times r \times t}{100} = 3 \\ \frac{20 \times r \times 2}{100} = 3 \\ r = \frac{300}{40} = 7.5$

The rate is 7.5% per annum

Answer 2

Step-by-step explanation:

Here Principal = 20

Amount = 23

Interest = 23 - 20 = 3

Let rate of interest is r.

Using formula

\begin{gathered} \frac{p \times r \times t}{100} = 3 \\ \frac{20 \times r \times 2}{100} = 3 \\ r = \frac{300}{40} = 7.5\end{gathered}100p×r×t=310020×r×2=3r=40300=7.5

The rate is 7.5% per annum