Question

What rate gives Rs. 520 as interest on a sum of Rs.65000 in 2 years?

Answer 1

Answer:

Here, Principal (P) = Rs. 65,000, Simple Interest (S.I.) = Rs. 520, Time (T) = 2 years

Simple Interest = \frac{P\times R\times T}{100}

100

P×R×T

\Rightarrow\ 520=\frac{65000\times R\times2}{100}\Rightarrow R=\frac{520\times100}{65000\times2}⇒ 520=

100

65000×R×2

⇒R=

65000×2

520×100