Question

 If the Interest on Rs 1500 is Rs 300 for 2 years then Rate of interest must be _____.​

Answer 1

Answer:

rate of interest, r = 10%

Step-by-step explanation:

Given Interest , I = Rs. 300

          Principal, p = Rs. 1500

          time, n         = 2 years

we know,

I = (p*n*r)/100

=> Rs. 300 = (1500*2*r)/100

=> r = (300*100) / (1500 * 2)

=> r = (300*100) / (3000)

=> r = 1*10

=> rate of interest, r = 10%

Answer 2

Answer:

10%

Step-by-step explanation:

Principal = 1500 Rs.

Interest for 2 years = 300 Rs.

Interest for 1 year = 300/2 = 150 Rs.

$Rate \: of \: Interest = \frac{150}{1500} \times 100 = \frac{1}{10} \times 100 = \frac{100}{10} = 10\%$

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