Question

pratiksha deposited Rs.8000 in a bank.After 2 years she withdrew Rs.3000 and the end of 4 years, she received an amount of Rs.6800. find the rate of simple interest

Answer 1

Answer:

Let the rate of interest be R

Amount after 4 years =8000+8000(4)R/100=8000+320R

Amount of withdrawal after 2 years of withdrawal =3000+3000(2)R/100=3000+60R.

(8000+320R)-(3000+60R)=6800

5000+260R=6800

260R=1800

R=180/26=90/13=6.92%