Question

male borrowed 8450 rupees from Ankit . at the end of 4 years male had to pay back 12506 .
what was the rate of interest?

Answer 1

Hope it helps you...

Answer 2

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%