Question

samir borrows rs . 60000 from rahim .he clears his debt by returning rs.64000 to rahim at the end of 12 months. find the rate of interest charged by him​

Answer 1

Answer:

Step-by-step explanation:

Answer 2

Answer:

P = Rs 60,000

Amt = Rs 64,000

SI = Rs 4,000

T = 1 year

=> SI = PRT/ 100

=> Rs 4000 = 60000 x R x 1/ 100

=> 4000 x 100/60000 => 40/6 %

=> R = 6⁴/⁶ %