Question

If rs 1,200 amounts to rs 1,440 in 5 years at simple
interest, the rate % p.a. is ?
​

Answer 1

Answer:

SI.=p×r×t/

1200=1440×5×R/

R=1200×100/1440×5

=20×100/120

=100/60

10/6

Answer 2

$simple \: interest = \frac{pnr}{100} \\ 1440 = \frac{1200 \times 5 \times r}{100} \\ r = \frac{1440 \times 100}{1200 \times 5} \\ = 24$

Therefore rate of interest is 24%

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