Ajay borrowed ₹ 5500 from Vijay for 2 months and paid back ₹ 6820. What was the interest rate per month?
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Answered by
6
Answer:
12%
Step-by-step explanation:
Amount Ajay borrowed from Vijay = 5500
Time Ajay took to return the money = 2 months
Amount Ajay returned after two months = 6820
Interest paid for 2 months = 6820-5500 = 1320
Interest paid for 1 month = 1300/2 = 660
Interest rate per month = 5500/100 = 55
= 660/55 = 12%
Answered by
0
Answer:
12% is the answer
Step-by-step explanation:
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