mohit pays Rs.9000 as the end of 2 years for the sum of Rs.7000 . find the rate of interest
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Answer:
A= 9000
P= 7000
T=2 years
Firstly,
A-P=I
9000-7000=I
2000=I
Now,
I= 2000
R=?
T= 2
I= P×R×T÷100
2000=7000×R×2÷100
2000=140R
R=2000÷140
R=14.28
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