Question

If reena pays an interest of Rs 1080 for two years on a sum of Rs 9000 find the rate of interest

Answer 1

6%

Explanation:

Short forms

Simple intrest= SI Principle=P time-T

SI=1080 T=2

P= SI x 100/P x T

P= 1080 X 100/9000 X 2

108000/18000

=6%

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Answer 2

S.I. = Rs. 1080

Time = 2 years

Principal = SI.*100/P * T

= 1080*100/9000*2

=1,08,000/18,000

= 6%