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Introduction to interests - class-VIII
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If the interest on $1700$ rupees is $340$ rupees for $2$ year the rate of interest must be
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A
$10\ \%$
💡 Explanation:
Principle$=Rs1770\quad\quad Time=2years$
$SI=Rs340\quad\quad Rate=?\ \cfrac{P\times R\times T}{100}=340\Rightarrow \cfrac{1770\times R\times 2}{100}=340\ \Rightarrow R=\cfrac{340\times100}{1770\times2}=\cfrac{340\times5}{177}=9.6%$