Question

What is the annual interest rate if 4 years interest of 100 rupees is 20 rupees?

Answer 1

Answer:

Interest of Rs.100 = Rs.2/-

\bold{r = 2\%}r=2%

Step-by-step explanation:

Given,

Principal = 1000

Simple interest for one month = Rs.20/-

(a). Interest of 100 rupees for one month is

Interest of Rs. 1000 = Rs.20

Then,

Interest of Rs.100 = \frac{20}{1000}\times 100

1000

20

×100

Interest of Rs.100 = Rs.2/-

(b). SI = \frac{p\times r\times t}{100}SI=

100

p×r×t

20 = \frac{1000\times r\times 1}{100}20=

100

1000×r×1

r = \frac{100\times 20}{1000}r=

1000

100×20

\bold{r = 2\%}r=2%

Step-by-step explanation:

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