Question

If Rs.4,000 amounts to Rs. 5,000 in 2 years. Find the rate of Simple Interest per annum​

Answer 1

ANSWER:

12.5

STEP BY STEP EXPLANATION:

Principal = Rs.4000

Amount = Rs.5000

Interest = Amount- Principal

= 5000-4000

= 1000

Time = 2 years

Rate = 100×I/P×T

Rate = 100×1000/4000×2

Rate = 12.5 percent

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