Question

reena take a loan of 1200 with simple intrest for as many years as the rate of intrest. if she paid 432 as intrest. at the end of loan period ,what was the rate of intrest​

Answer 1

S.I = P*R*T/100

Here, P= 1200 and Interest paid = 432

whereas, Rate of interest= Time period

Therefore ;

S.I= 1200 *R*T/100=432

=> 1200*R*2/100=432

=> 12t*2=432

=> t. =√432/12

=> t. =√36

=> t. =6

.: Rate of interest is 6℅.