Question

The interest of Rs. 1,700 is Rs. 340 for 2 years. find the rate of interest on it.​

Answer 1

Answer:

Hence, we can say that the rate of interest is 10% on Rs. 1700 for 2 years to obtain the interest of Rs. 340

Answer 2

Before, finding the answer. Let's find out we can find the answer.

• In this question, we are asked to find the rate of interest.
• So, to find the rate of interest, we must multiply the Principal and Time first.
• Then, we must cut off the zeros.
• And whatever we get, at last, we must divide it.

_______________________

Given :

• Principal = Rs. 1700
• Time = 2 years

To find :

• Rate of Interest

Solution :

As we know  

Simple Interest  = PTR / 100

                   340 = 1700× 2 × R /100

                   340 = 17 × 2 × R

                   340 = 34R

                   Rate = 10%

Therefore, the Rate of Interest is 10%.