A sum of 15,000 amounts to 19,800 in 4 years. Calculate the rate of interest.
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2
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Answered by
3
Answer:
8%
Step-by-step explanation:
SI=PRT/100
AMOUNT=PRINCIPAL-SI
=》19800=15000-SI
=》SI=19800-15000
=》SI=4800
●SI=4800
●PRINCIPLE=15000
●TIME=4 YEARS
Putting in the formula we get
4800=15000×r×4/100
=》r=4800×100/15000×4
=》r=8%
Hope it helps!!!
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