(3)50days(4)10daysMahesh invested an amount of 12050 atsimple interest – InterviewSolution

1.

(3)50days(4)10daysMahesh invested an amount of 12050 atsimple interest. He got an amount of13496 at the end of 2 yr. At what rate ofinterest did he invest?

Answer»

INTEREST = AMOUNT - PRINCIPAL= 13496 - 12050= Rs. 1446

INTEREST = PRT/100=> (1446*100)/ ( 12050*2) = R=> R = 6 %

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