X borrows rs 10000 from y at simple interset.At end of 5 years x returns rs 15000 to y to clear loan.Find the rate of interst
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The formula =>
( Principle × Rate × Term ) ÷ 100
Principle = 10,000
Term = 5 yrs
Rate = ?
Interest = 5000
Let's Substitute =>>
( 10000 × Rate × 5 ) ÷ 100 = 5000
100 × Rate × 5 = 5000
500 × Rate = 5000
Rate = 5000 ÷ 500
Rate = 10%
The answer is 10
( Principle × Rate × Term ) ÷ 100
Principle = 10,000
Term = 5 yrs
Rate = ?
Interest = 5000
Let's Substitute =>>
( 10000 × Rate × 5 ) ÷ 100 = 5000
100 × Rate × 5 = 5000
500 × Rate = 5000
Rate = 5000 ÷ 500
Rate = 10%
The answer is 10
thomsonsha69p79b9s:
Thanks a lot
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