Question

Rishabh borrowed Rs 80,000 for 3 years. Find the rate of interest if he paid an interest of Rs 4800.

Answer 1

Answer:

P= 80000

R = 10 % ‘

after first year amount = 88000

10 % rate compounded annually

If we paid 55000 at the end of the 2nd year it means we paid 110 % of amount left after paid certain from the 1st year . C.I always calculated on previous year amount

= \frac{55000}{110} \times 100 = 50000

So that certain amount is paid after first year then the remaining amount is equal to 50000.

i.e the certain amount paid after 1st year is equal to the = 88000 -50000= 38000

Step-by-step explanation:

Answer 2

Answer:

your answer is 2%rate p.a