Question

the sum of Rs 10000 amounts to Rs 12000 in 2 years find the rate of interest​

Answer 1

To calculate your interest rate, you need to know the interest formula I/Pt = r to get your rate. Here,

I = Interest amount paid in a specific time period (month, year etc.)

P = Principle amount (the money before interest)

t = Time period involved

r = Interest rate in decimal your interest rate, you need to know the interest formula I/Pt = r to get your rate. Here,

I = Interest amount paid in a specific time period (month, year etc.)

P = Principle amount (the money before interest)

t = Time period involved

r = Interest rate in decimalo calculate your interest rate, you need to know the interest formula I/Pt = r to get your rate. Here,

I = Interest amount paid in a specific time period (month, year etc.)

P = Principle amount (the money before interest)

t = Time period involved

r = Interest rate in decimal