Question

some money amounts to rupees 1040 by simple interest in 2 years .if the interest of 2years is rupees 40 them rate of interest is

Answer 1

A= 1040
T=2yrs
S.I.= 40
So, p = 1040-40
=1000

Now,
Si = prt/100
40 = 1000*r *2/100
20r=40
R=40/20=2%

Therefore, rate of interest = 2%

Answer 2

hello Frnd

here is your a answer..

Amount = 1040
Interest = 40
Time = 2 years

Let the principal amount be = P

Amount = Principal + Interest

1040 = P + 40

P = 1000

Now

Simple Interest = Principal × Rate/100 × Time

40 = 1000 × Rate/100 × 2
Rate = 4000/2000
Rate = 2 %

hope it helps
#jerri