Question

Sameer borrowed 10000from a bank on27 September 2004 on 9 December 2004 he paid rs.10140 including the bank interest find out the rate of interest​

Answer 1

Answer:

7%

Step-by-step explanation:

given P=10000

A=P+SI

SI=10140-10000

SI=140

time=2months12days

let us convert into years bcz basically rate is annually payed

so t=2/12+((12/30)/12)

t= 2/12+1/30

t=12/60

t=1/5 =0.2

now use formula

si= (p×r×t)/100

putting respective values

r=(140×100)/(10000×0.2)

r=7%