Tuesday, 26 November 2019

Simple Interest Sum 2

2) If Principal = Rs 5000, period = 4 years, Simple interest =

 Rs 1600, What is the rate of Simple Interest?


    I = P X R X T / 100

   1600 = 5000 X R X 4 / 100

   R = 1600 X 100 /5000 X 4

   R = 8%

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