Question

If simple interest on Rs 2000 increase by 40 when the rate percent increase by 2% per annum. Find the time (in year)

Answer 1

Answer:

Principal = Rs 2000

Time = 4 years

Interest = Rs 400

Let Rate of Interest= R

Now, Interest=

100

Principal×Rate×Time

400=

100

2000×R×4

R=

2000×4

400×100