Question

At what intrest rate Rs. 8900 will amount to rs. 10324 in 2 years

Answer 1

Answer:

Ans : R = 8%

Explanation:

Given:

• Amount
• Principal
• Time

Have to find:

• Interest Rate

Solution to find the answer:

Rate = (SI × 100) / (P × T)

SI = A-P

Next Step:

SI = 10324 - 8900

SI = 1424

Next Step:

— >> R = (1424×100) / (8900 × 2)

— >> R = 1424 / 178

Ans : R = 8%