Question

Deposit= ₹10,000
Time= 2years
SI= ₹700
Rate=?

Please explain nicely

Answer 1

Answer:

Given that,

Principal= ₹10,000

Time= 2 yr

SI= ₹700

To Find:

Rate=?

$r = \frac{si \: \times 100}{p \times t}$

$r = \frac{700 \times 100}{10000 \times 2}$

$r = \frac{7}{2}$

$r = 3.5\%$

Hence, Rate%= ^___3.5% ___^