Neha borrowed 7500 from her friend and after 2 years and 10,000 to her full payment with interest Calculate the rate of interest .
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If Neha borrowed 7500 from her friend and after 2 years and 10,000 to her full payment with interest, then the rate of interest is 16,67% .
Step-by-step explanation:
Given: Principal = Rs 7500
Amount = Rs 10,000
Time = 2 years
Find the rate of interest .
Amount = Principal + Interest
10000 = 7500 + Interest
Interest = 10000 - 7500
Interest = 2500 Rs
Interest =PNR/100
2500 = (7500 × 2 × R)/100
2500 = 75 × 2 × R
2500 = 150 R
R = 2500/150
R = 16,67%
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