Question

A sum of rs 8000 amounts in 4years at simple interest find the rate of interest

Answer 1

Step-by-step explanation:

It is given that

Principal (P) = 8000

Rate of interest (r)= 10% p.a.

Period (n) = 4 years

We know that

Amount = P(1+r/100) n

Substituting the values =8000(1+10/100) 4

By further calculation

= 8000×11/10×11/10×11/10×11/10

= 11712.80

Here

CI = A - P

Substituting the values

= 11712.80−8000

= 3712.80