Question

& Rahul borrowed 50,000 from a Bank on 1 March 2014 and paid 53150 on 6 October
2014. Find the rate of interest charged by the Bank.
annum​

Answer 1

Answer:

12.6%

Step-by-step explanation:

Principle =50,000

Time=183days or. 1/2 year

Rate =?

SI=Amount - Principle

SI=53,150-50,000

SI=3,150

Then

SI=P×R×T /100

3,150=50,000×R×1/2/100

3,150=50,000×R\200

R=3150×200/50,000

R=63/5or12.6%