Question

Ram borrows rs 40,000 from Rajesh . he clears his debt by returning rs 44,000 to rajesh at the end of 12 months .find the rate of interest charged by rajesh​

Answer 1

Answer:

Step-by-step explanation:

interest paid by ram=44000-40000

                                 =4000

interest=4000

P=40000

N=12 months=1year

R=x

interest =PNR/100

4000=40000*1*x/100

400000=40000x

x=400000/40000

x=10%

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