Question

Sahil deposited 15000 in a bank and received 18900 at the end of 2 years. What was the annual
interest rate offered by the bank?​

Answer 1

Answer:

13

Step-by-step explanation:

assuming simple interest

formula for tax is =amount*rate *time/100

amount is 15000

tax is 18900-amount= 3900

time is 2 years

putting in formula

3900=15000*2*R/100

hence rate is

R= 3900/(150*2)

R= 39/3

R=13

Answer 2

Answer:

13

Step-by-step explanation:

assuming simple interest

formula for tax is =amount*rate *time/100

amount is 15000

tax is 18900-amount= 3900

time is 2 years

putting in formula

3900=15000*2*R/100

hence rate is

R= 3900/(150*2)

R= 39/3

R=13

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