Question

Mohit pays RS 9000 as an amount on the sum of RS 7000 that he had borrowed for 2 years. Find the Rate of interest​

Answer 1

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Answer is R => 14.29%

$\tt\Large{\orange{Explanation:-}}$

$\tt\Large{\red{Given:-}}$

A = Rs 9000

P = Rs 7000

SI = A – P = 9000 – 7000 = Rs 2000

T = 2 years

R = ?

$\tt\Large{\red{By\:using\: formula:-}}$

SI = (P × R ×T) / 100

R = (SI × 100) /(P× T)

R = (2000 × 100 /7000 × 2) =14.29 %

Thus, R = 14.29%

Answer 2

Answer:Answer is R => 14.29%

Step-by-step explanation:

A = Rs 9000

P = Rs 7000

SI = A – P = 9000 – 7000 = Rs 2000

T = 2 years

R = ?

SI = (P × R ×T) / 100

R = (SI × 100) /(P× T)

R = (2000 × 100 /7000 × 2) =14.29 %

Thus, R = 14.29%