Question

If Rs. $250$ amounts to Rs. $285$ in $2$ years, find the rate per cent per annum.

Answer 1

Given

$P=Rs.250$

$A=Rs.285$

$T=2yr$

We know

Simple Interest $=A-P$

$=285-250$

$=25$

$SI=\frac{PRT}{100}$

$25=\frac{250\times R\times 2}{100}$

$R=\frac{25\times 100}{250\times 2}$

$R=5\%$