Question

What rate gives Rs. 480 as interest on a sum of Rs. 12000 in 2 years ​

Answer 1

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$rate \: = \frac{si \times 100}{p \times t} \\ \\ rate \: = \frac{480 \times 100}{12000 \times 2} \\ \\ rate \: = \frac{48000}{24000} \\ \\ rate \: = \frac{48}{24} \\ \\ rate \: = \frac{4}{2} \\ \\ rate \: = 2\%$

Answer 2

Answer:

Amount = Rs.12000

Interest = Rs. 480

So principal = A - I

= Rs. 11520

Time = 2years

Rate = I×100/P×T

= 480×100/11520×2

= 3/36by2 is the answer