Question

Aa person borrowed a sum of 20,000 for 2 years on simple interest he had to repay 24800 including interest after 2 years the rate of interest per annum was

Answer 1

Answer:

Aa person borrowed a sum of 20,000 for 2 years on simple interest he had to repay 24800 including interest after 2 years the rate of interest per annum was

Answer 2

12%

Step-by-step explanation:

Amount = ₹ 24800

Principal = ₹ 20000

SI = Amount-Principal

= 24800-20000 = ₹ 4800

Rate of interest = SI×100/P×T = 4800×100/20000×2 = 12%

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