Question

if principal Rs160000, amount Rs191844, time 2 years then what is the rate of interest? show with logarithm

Answer 1

Answer:

Intrest = Amount - S.I.

= 191844 - 160000 = 31844 Rs.

Now , S.I. = P. R. T ( where R is rate percent)

31844 = 160000 × 2 × R %

31844 / 320000 = R %

Hence , R = 31844 / 3200

R = 9.95 % ( approx)

Hence , rate of interest is 9.95 %.