Dev deposited Rupees 10000at some rate of simple interest. if the amount he received after 4years is Rupees 12400,then find the rate of interest.
Answers
Answered by
2
Answer:
12400-10000=2400
2400/4years=600
600/10000*100=6
ans is= 6% rate of interest
Answered by
1
Answer:
6%
Step-by-step explanation:
Amount (A) = 12400
Principal (P) = 10000
Time(T) = 4years
Interest(I) = amount - principal
= 12400 - 10000
= 2400
rate of interest = I ÷ P×T
=0.06
and since rate is calculated by %
0.06×100 = 6%
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