Question

An amount becomes rs 11300 in 2 years and rs 12600 in 4 years. the rate, if calculated at simple interest is

Answer 1

I think that will be 2260

Answer 2

Answer:rate =6.5%

Step-by-step explanation:

as we know simple interest is same for each year.

so difference of interest in 2 years = amount in 4th year - amount n 2nd year

=12600 - 11300

=1300 rs.

as this is 2 year interest , principal = 11300 - 1300

=10000 rs.

as we know for simple interest

$i=\frac{p*r*t}{100}$

so

$1300=\frac{10000*r*2}{100}\\\\r=6.5$

so at the rate of 6.5% an amount becomes rs 11300 in 2 years and rs 12600 in 4 years