Question

simple interest on rs 1400 for one month is rs 28 find the interest rate per annum​

Answer 1

Answer:

2%

Step-by-step explanation:

Simple Interest =Principal ×Rate ×Time /100

28= 1400 ×R×1 / 100

100×28 / 1400×1=R

2%=R

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Answer 2

Answer:

Rate per Annum = 24%

Step-by-step explanation:

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Let Rate per Annum be x

x = 100*Interest/Principal*Time

x = 100*28/1400*1/12

x = 2*12

x = 24%