Q2. Rajneesh borrows 7,000 from a bank and has to pay back 9,800 after 4
years. What is the rate of interest charged by the bank?
Answers
Answered by
1
Answer:
1.8k
Step-by-step explanation:
Its simple he takes 7000 from the bank and 4 years later he has to pay 9800, So we just subtract both of these and we get 1800 / 1.8k ....
SO the yearly interest is 1800 / 4 which 450.
Answered by
0
Answer:
10%
Step-by-step explanation:
simple interest = Amount - principal
= 9800- 7000
= 2800
To find Rate :
SI = Principal × rate × time
100
Rate = SI × 100
P × T
Rate = 2800×100
7000×4
Rate = 10 %
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