Question

Mayal borrowed ₹8,450 from Ankit. At the end of 4 years Mayal had to pay back ₹12,506. What was the rate of interest?


Answer it fast please with solution? ​

Answer 1

Answer:

12%

Step-by-step explanation:

Interest =Amount - Principal

=12506-8450

=4056

$i = (p \times r \times t) \div 100$

4056 = ( 8450×r×4)÷100

4056×100= 33,800r

r= 405600÷33800

r=12