A sum of ₹400 amounts to ₹480 in four years. Find the rate of interest per annum.
Answers
Answered by
0
Answer:Principal = Rs.400, Amount = Rs.480
Simple Interest = Rs.(480−400)
=Rs.80
Time = 4 years
Rate in percentage =SI×100P×T
Rate in percentage =80×100400×4=80001600=5%
New rate of interest
=(5+2)=7%
Interest=400×7×4100=112
Hence amount=Rs.(400+112)
=Rs.512
Step-by-step explanation:
Similar questions