Question

. If the interest on 1700 rupees is 340
rupees for 2
years
the rate of interest
must
be ________​

Answer 1

Answer:

Rate of interest = 10%

Step-by-step explanation:

Given :

Simple interest = ₹340

Principal = ₹1700

Time = 2 years

To find :

The rate of interest

Taken :

To find the rate of interest use this formula -:

$\boxed{\rm{R=\dfrac{S.I.\times100}{P\:\times\:T}}}$

Where,

R = Rate

S.I. = Simple interest

P = Principal

T = Time

Solution :

$:\implies\rm{R=\dfrac{340\times1\cancel{00}}{17\cancel{00}\times2}}$

$:\implies\rm{R=\cancel{\dfrac{340}{17\times2}}}$

$:\implies\rm{R=10\%}$

So , the rate of interest is 10% .