Question

Find the rate of interest if, P = rs 1000, I = rs200, T = 2year​

Answer 1

At what rate of simple interest will Rs. 1,000 amount to Rs. 1200 in two years?

SI = PNR/100

SI=SIMPLE INTEREST

P=PRINCIPAL

N=NUMBER OF YEARS

R= RATE OF INTEREST

From the question,

P+SI=1200 , P=1000 & N=2

1000+SI=1200

That is SI=1200–1000

SI=200.

Now put all the above in the formula.

SI=PNR/100

200= (1000*2*R)/100

20000=2000R

Now, R = 20000/2000

R=10

So, At 10% rate of simple interest will Rs.1000/- amount to Rs.1200/- in 2 years.