A bank pays back a sum of ₹ 12,000 to Sam who had invested ₹ 10,000for 4 years. Find the rate of interest
Question
Solution 1
To find the rate of interest, we first need to find the amount of interest earned.
Step 1: Calculate the interest Interest = Total amount returned - Initial investment Interest = ₹12,000 - ₹10,000 = ₹2,000
Step 2: Use the formula for simple interest to find the rate The formula for simple interes Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv
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