Question

If simple interest on rs 1120 for 2 years is 8000 what is rate of interest percent per annum

Answer 1

Step-by-step explanation:

I=PTR/100

I=1120×2×8000/100

I=112×16

I=1792

Answer 2

Answer:

The rate of interest is 7%.

Given:  

Simple interest on Rs 8000 for 2 years is 1120.

To find:

The rate of interest percent per annum.

Solution:  

Let the Principal be denoted as P.

Let the rate of interest be denoted in % as r

Let the number of years be denoted as n.

Simple interest $=\frac{p \times n \times r}{100}$

1120 $=\frac{8000 \times 2 \times r}{100}$

r $= \frac{1120 \times 100}{8000 \times 2}=\frac{112}{16}$

= 7%

Result:

The rate of interest per annum is 7%.