Ramu had borrowed a loan of RS. 6000 form of bank 4 years ago. if he had paid a total amount of RS.9000to get rid of the loan, what was the rate of interest
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Answer:
12.5
Step-by-step explanation:
principal=₹6000
Time=4 yrs
Amount =₹9000
as we know,
Amount=principal+S.I.
9000=6000+S.I.
S.I.=3000
.... S.I =(P*R*T) /100
3000=(6000*R*4)/100
3000*100=(R*2400)
(3000*100)/2400=R
R=12.5...
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