Question

a sum of Rs. 15000 earns CI of Rs. 2496 in 2years .find the rate of interest

please answer this it's very important ​

Answer 1

Answer:

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Answer 2

Answer:-

Before solving, we need to know the formula to be used here.

Remember this formula.

$\boxed{\large \sf C.I. = P \{(1 + \frac{ R}{100}) ^{ T} - 1 \}}$

Where,

CI >> Compound Interest.

P >> Principal Amount.

R >> Rate of Interest.

T >> Time Period.

Here,

P = ₹15000

CI=₹2496

T=2years.

We have to find the value of R

Putting the values in formula, we get,

$\sf 2496 = 15000 \{ {(1 + \frac{ R}{100}})^{2} - 1 \}$

Steps for solving the equation is given in the attachment.

On solving, we get

R=8%

Hence, the rate of interest is 8%.