Question

if Rs. 400000 amount Rs 592000 in
4 years, Find the rate of interest​

Answer 1

Answer:

Given

Principal (P)= Rs.400000

Amount (A)= Rs.592000

Time (T)= 4 years

Then,

Simple Interest (S.I)= Amount - Principal

Simple Interest (S.I)= Rs.592000 - Rs.400000

Simple Interest (S.I)= Rs.192000

Now,

Rate of interest = S.I × 100 / P × T

Rate of interest = Rs.192000 × 100 / Rs.400000× 4

Rate of interest = 12

Therefore, Rate of interest = 12%