Math, asked by hiteshvipinarmy, 20 days ago

What rate of interest gives 1,400 as an interest on a sum of 21,000 in 2 years? Explain In step by step all the methods​

Answers

Answered by regardsvishal
1

Answer:

Given information:

  • Simple interest I=1400.
  • Principal amount P=21000
  • Time T=2 years.

Step-by-step explanation:

The simple interest is given as,

I=\frac{P\times R\times T}{100}

Here, R is the rate.

The expression for the time is given as,

R=\frac{I\times 100}{P\times T}

Substituting all known values,

R=\frac{1400\times100}{21000\times2}\\=3.33%

Therefore, the rate of Interest is 3.33%.

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