Question

ramesh borrowed $5000 from a bank. he will have to pay $10000 after 5 years. find the rate of interest, if the interest is payable half yearly.

Answer 1

S.I =A-P
=10000- 5000
=5000
R= S.I ×100/ P× T
=5000×100/5000 ×5
=20 % p.a