Question

At a certain rate for 2 years Rs 1200 fetches an interest of Rs. 192, then at the same rate how much interest will Rs. 2000 fetch in 1 year?​

Answer 1

Answer:

suppose rate of interest is r

I=(prt) /100

= [1200×r×2]÷100

=24r

or, 24r=192

or, r= 8

so the rate of interest is 8% per year

I= (2000×8×1) /100

=160

the answer is Rs. 160