Question

Mr. Raghava has deposited 8,000 with a finance company for a period of1 year.the company credits the interest quarterly.He received 9,724.05 after one year.Find the rate of interest per cent per annum.bank.He will interest is​

Answer 1

Answer:

P= 8000

T=1year

A=9724.05

R=?

I=A-P

=9724.05-8000

=1724.05 rupees

R=(I*100)/P*T

R=21.5%