Question

Find Rate when Principal=Rs.10000;Interest=Rs.800;Time=5years​

Answer 1

Answer:

Given

Principal= 10000

S.I= 800

Time= 5 years

To find

Rate of interest

Let the Rate of interest be x

We know that

(P*R*T)/100 =S.I.

According to question

(10000*x*5)/100= 800

(50000x)/100 =800

500x=800

x = 800/500

x= 1.6%

Therefore, required rate of interest= 1.6%