male borrowed 8450 rupees from Ankit . at the end of 4 years male had to pay back 12506 .
what was the rate of interest?
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Step-by-step explanation:
Principal = ₹ 8450
Time = 4 years
Amount = ₹ 12506
Simple Interest = ?
S.I.= Amount - Principal
12506-8456
= ₹ 4050
S.I.= P×R×T
100
8450×R×4
100
= 169×2
= ₹ 338
Amount = P+S.I.
12506 =8450+338r
338r = 12506-8450
338r= 4056
r = 4956
338
r= 12%
Therefore,
Rate of interest was 12% per anum
Rate =12%
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