Question

ayush paid र8432 for a loan of 8000र taken for 219 days. find the rate of simple interest charged by the bank .

Answer 1

Answer:

Amount=Rs8432.

Principle=Rs8000.

Time=219days =219/365days=3/5year

Simple Interest=Amount-Principle=Rs8432-Rs8000=Rs432.

Rate of interest=100*SI/Principle*Time

=(100*432/8000*3/5)p.a

=(4320/4800)p.a.

=(4320/4800) divided by

480/480

=9/10 p.a

hence the rate of interest is 9 by 10 percent per annum.