Question

if raghav pays an interest for rs 850 for 2 years on sum of rs 6500.find the rate of interest.​

Answer 1

Step-by-step explanation:

rate of interest=850×100÷(6500×2)=6.54

Answer 2

Answer:

Rate of interest, r = 6.53 %

Step-by-step explanation:

In the question,

Total interest paid by Raghav = 850 Rs.

Time for which the sum was on interest = 2 years

Principal Amount, P = 6500 Rs.

Let, us say the rate of interest is = r

So,

Also,

Simple Interest is given by,

$SI=\frac{PRT}{100}$

Therefore,

$850=\frac{6500\times r\times 2}{100} \\So,\\r=\frac{850}{2\times 65}= 6.53 \%$

Therefore, the rate of interest is given by,

r = 6.53 %