Mohan invested Rs. 20000 in the bank for 4 years and got back Rs. 29282 after 4 years. What was the rate of interest per annum payable annually?
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Answered by
6
interest=A-P
I=29282-20000
I=9282
Now,
I=P×R×N/100
9282=20000×R×4/100
9282=800×R
9282/800=R
R=11.60%
I=29282-20000
I=9282
Now,
I=P×R×N/100
9282=20000×R×4/100
9282=800×R
9282/800=R
R=11.60%
Answered by
11
Answer:
THE RATE : 10 PER ANNUM
Step-by-step explanation:
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