Question

seema borrowed rupees 10,000. at the end of 3 years seema had to pay rupees 13,600 on the bank. what was the rate of interest?

Answer 1

principal(P) = 10000
time(T) = 3 years
amount = 13600
let rate of intrest=R
SI= P×R×T/100
SI= 10000×R×3/100
SI=300R
Amount = P+SI
13600=10000+300R
3600=300R
3600/300 = R
R = 12%
Rate of intrest = 12%

Answer 2

Answer:

Step-by-step explanation:

Principal(P) = 10000

Time(T) = 3 years

Amount = 13600

Let rate of intrest=R

Simple interest (SI)= P×R×T/100

SI= 10000×R×3/100

SI=300R

Amount = P+SI

13600=10000+300R

3600=300R

3600/300 = R

R = 12%

Rate of intrest = 12%