Question

At what rate of interest had a weaver taken a loan of 6500 on 1 april if he has to pay 123.50 as interest on 13june

Answer 1

Answer:

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Answer 2

Answer:

Interest would be 1.9%

Step-by-step explanation:

Given,

The original amount of the loan = 6500,

Amount of interest paid = 123.50,

Thus,

$\text{Interest paid}=\frac{\text{Interest paid}}{\text{Total loan}}\times 100$

$=\frac{123.50}{6500}\times 100$

$=\frac{123.50}{65}$

= 1.9 %