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Ramesh lent a loan of Rs 1800 to Suresh at a rate of interest for 2 years. At the end of period Suresh refunded him a total of Rs 2232. At what rate of interest had Ramesh lent the loan? Ans: 12%

Respuesta :

semsee45

Answer:

12%

Step-by-step explanation:

Simple interest formula:  A = P(1 + rt)

where:

  • A = final amount
  • P = principal
  • r = interest rate (in decimal form)
  • t = time (in years)

Given:

  • A = Rs 2232
  • P = 1800
  • t = 2

Substitute given values into the formula and solve for r:

⇒ A = P(1 + rt)

⇒ 2232 = 1800(1 + r · 2)

⇒ 1.24 = 1 + r · 2

⇒ 0.24 = 2r

⇒ r = 0.12

Convert into percentage:

0.12 = 12/100 = 12%

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