Question

Rahul borrow₹15000 for 2 years at CI.After one year it amounts to ₹16200.find the rate of interest​

Answer 1

Answer:

4%(approx)

Step-by-step explanation:

Principal = RS 15000

Amount = RS 16200

Time = 2 years

Let Rate = R%

By using formula

A = P(1 + R/100) ^n

16200 = 15000 (1 + R/100)^2

(1+R/100)^2= 16200/15000

(1+R/1000)^2=27/25

On cancelling the square

1+R/100 = 3sqrt3/ 5

R/100 = 1.732*3/5 - 1

R/100 = 5.196/5 - 1

R/100 =0.196/5

R=0.196*100/5

R=0.196* 20

R= 3.92

R= 4% (approx)