Question

in one bank the interest on rupees 10000 for one year is rupees 800 in another bank the interest on the same principal for 2 years is rupees 1400 what is the differences in the rate of interest in the two banks answer is 1% but how it is give me the explanation of formula ​

Answer 1

Answer:

dear as you already given answer but it can be explaned as

Step-by-step explanation:

1st bank take 800 rupees on 10000 it mean interest in %is as( 800\10000)100= 8%.

2nd bank take 1400 for 2 year means 700 for 1 year and interest can be found in % as above it will be 7%.

so clearly seen difference is 1%