Question

if a Weaver pays back rupees 5060 for a rupees 5000 loan in only 3 weeks at what annual rate of interest had he taken the loan​

Answer 1

Answer:

20.8% per year

Step-by-step explanation:

interest = 5060 - 5000 = 60 for 3 weeks

so interest for one week is equal to 60 / 3 = 20

and interest for one year = 20 *52 = 1040

hence the rate of interest  = 1040/5000 * 100% per year = 20.8% per year

Answer 2

Answer:

20.8 per annum

Step-by-step explanation:

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