Question

If the interest on 1700 Rs is 340 Rs for 2 years. Then the rate of interest must be _____​

Answer 1

10 %

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Answer 2

Given,

P = 1700

T = 2

S I = 340

To find,

Rate of interest (R)

Solution,

S.I =

$\frac{prt}{100}$

340 = 1700 x R x 2/100

34000 = 3400R

R =

$\frac{34000}{3400}$

R = 10%

Therefore, the rate of interest is 10%

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