Sachin took a loan of ₹30000 from a bank for or a period of 8 months. at the end of 8 months he returned an amount of rupees 31440. calculate:-
a) the interest paid by Sachin
b) the rate of interest (simple interest)
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Answered by
4
Answer:
Given, P
i
=30,000
t=8 month=
3
2
year
P
t
=31,440
interest=31,440−30000
=1440
S.I.=
100
P
i
×t×r
1440=
100
30,000×
3
2
×r
r=
20
144
=7.2
rate 7.2%
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