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1) If Manohar pays an interest of Rs. 750 for 2 years on a sum of Rs. 4500, find the rate of interest.2) What sum of money lent out at 16 percent per annum simple interest would produce Rs 9600 as interest in 2 years? |
Answer» ANSWER ⬇️Step-by-step EXPLANATION: Where I = interest , R =rate , p = PRINCIPAL , t = time R = (100×750)/(4500×2) R = 75000/9000 R = 8.33%.
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