Question

f the simple interest on Rs 500 for 4 years is Rs 40 , the rate of interest is ;​

Answer 1

Answer:

2%is your answer of this question

Answer 2

Principal (P) = Rs. 500

Rate of interest (R) = ?

Time (T) = 4 years

Simple Interest (S.l.) = Rs. 40

$S.l. = \frac{P \times R \times T}{100} \\ 40 = \frac{500 \times \: R \times 4}{100} \\ 40 = 20R \\ R = \frac{40}{20} \\ R = 2$

Therefore, Rate of interest (R) = 2%