Question

monthly intrest for 1000 rupees is 20 rupees only (what is the rate of interest​

Answer 1

Answer:

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Answer 2

Answer:

Given:-

Monthly interest for ₹1,000 is ₹20 only. What is the rate of interest?

To Find:-

The rate of interest.

Note:-

●》Here, Monthly interest for some amount is a one month interest of amount ( Here, we get time ) and principal is the amount at which rate is calculated.

●》Simple Interest = $\frac{Principal × Rate × Time}{100}$ = Transposed => , Rate of interest = $\frac{Interest × 100}{Principal × Time}$

Solution:-

[ According to note first point ]

$\huge\red{Principal = ₹1,000; Interest = ₹20; Time = 1 \ \ month}$

$\huge\red{Rate \ \ of \ \ interest = ?}$

☆ According to note second point~

▪︎$Rate \ \ of \ \ interest = \frac{Interest × 100}{Principal × Time}$

▪︎$Rate \ \ of \ \ interest = \frac{20 × 100}{1,000 × 1}$

▪︎$Rate \ \ of \ \ interest = \frac{2,000}{1,000}$

☆ After dividing and usually rate is written in "%" ~

▪︎$Rate \ \ of \ \ interest = 2$%

▪︎$\huge\pink{Rate \ \ of \ \ interest = 2}$%

Answer:-

Hence, the Rate of interest = 2%.

:)