Question

find the rate of interest per year of the following details amount=2000 year=2 and simple interest is rs 120​

Answer 1

Answer:

Step-by-step explanation :

SI = 120

Principal = 2000

Time = 2 Years

Rate = ?

SI = P*R*T/100

120 = 2000*R*2/100                                                        [2000/100=20]

120 = 20*R*2

120 = 40*R

R = 120/40

R = 3 % per annum