Question

What would be the interest for Rs. 1000 in 2 years at the rate of Rs. 2 per month per hundred rupees? discribe ​

Answer 1

Explanation:

principle=1000

time= 2 years

rate = 2×12=24/100=0.24%

simple intrest= p×r×t

= 1000 × 0.24 × 2

=480 rupees

total amount will be 1000 + 480= 1480