Question

what annual rate of interest was paid if rs10000 earned rs1000 as simple interest in 2years?​

Answer 1

Answer:

Here P=Rs 10000

SI= Rs 1000

T=2 years

R=?

We know , SI= PTR/100

OR, 1000= 10000*2*R/100

Or,1000*100/2000000= R

Or, 1/20= R

Therefore R= 0.05%

Step-by-step explanation: