Question

At what rate percent will Rs. 1600 amounts to Rs. 2000 in 5 years.

Answer 1

r=? A=2000 , P=1600, T=5 YRS

S.I=A-P=400

$S.I=\frac{P\times R\times T}{100}$

$400=\frac{1600\times R\times 5}{100}$

$\frac{400}{16\times 5}=R$

$R=5\%$