Question

A sum of `1,200 was lent out for 2 years at simple interest. the lender got `1,536 in all . find the rate of interest p. a

Answer 1

Principal=Rs.1200

Simple interest=Rs.1536

Time=2 years

Rate=SI   x    100  /P  x   T

         1536    x   100  /  1200   x   2

           =64%

= The rate of interest per annum is 64%.

         

Answer 2

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