Question

Seema received Rs 2000 as interest on the sum of Rs 20,000 after 1 year. So the rate of interest
was
Ans. 10%​

Answer 1

Answer:

Seema received Rs 2000 as interest on the sum of Rs 20,000 after 1 year. So the rate of interest was 10%.

Step-by-step explanation:

Given: Interest = Rs 2000

The sum of principal = Rs.20,000

Time = 1 year

Find the rate of interest.

Formula: Simple Interest = $\frac{PNR}{100}$

[tex]\frac{20000 \times 1 \times R}{100} = 2000\\ 200 \times 1 \times R = 2000\\ 200 R = 2000\\ R = \frac{2000}{200} \\ R = 10 percent[/tex]

So, the rate of interest is 10%.