Question

Radha gave Sadhna Rs. 1600 and Sadhna paid back Rs. 1750. What was the rate of interest charged for 2 years ? ( Answer 4.69% )

Answer 1

Step-by-step explanation:

Principle = Rs.1600 , T = 2 years

Amount = Rs.1750

S.I ( Simple Interest ) = A ( Amount ) - P ( Principle )

= Rs.( 1750 - 1600 )

= Rs.150

R ( Rate of Interest ) = S.I × 100 / P × T

= 150 × 100 / 1600 × 2

= 15000 / 3200

= 4.6875 % Ans