Question

Question #93fd1

Answer 1

8%

Explanation:

Here loan + interest = 1914 & loan (p)= 1650. So, interest (i)= 264. No of years(t)=2and rate of interest (r) =?
We know,as per simple interest formula, SI=PRT/100
`rArr 264=[1650*r*2]/100`
`rArr 264*100 = 1650*r*2`
`rArr r = (264*100)/(1650*2)`
`rArr r = 8`