Question

paul borrowed some money at simple interest of 10% and invested in abusiness. he got 20% profit in the first year, he reinvested the total money and got 10% profit . what is the profit percentage

Answer 1

The simple interest formula allows us to calculate I, which is the interest earned or charged on a loan. According to this formula, the amount of interest is given by I = Prt, where P is the principal, r is the annual interestrate in decimal form, and t is the loan period expressed in years.