Question

If Rs 1 amount to Rs 9 in over a period of 20 years what is the rate of simple intrest

Answer 1

Answer:

40%

Explanation:

8 = (1*20*R)/100

R = 40%

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Answer 2

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Here is your answer
P = Rs 1
A = Rs 9
T = 20 years
Let R = r %

As
SI = A - P
= 9 - 1
= Rs 8

Now As we know the formula
SI = PRT/100
$8 = \frac{1 \times 20 \times r}{100} \\ r = \frac{8 \times 100}{20 \times 1} \\ r = 40\%$

Therefore Rate of interest is 40 %

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