ICSE Class 6 Answered
On a principal of Rs. 30,000, an interest of Rs.2400 was paid for 1 year. Determine the rate of interest.
Asked by Topperlearning User | 08 Dec, 2013, 11:31: PM
Expert Answer
Here, P = 30,000, S.I. = Rs. 2,400 and T = 1 year
Using the formula, 
R = 
= 
= 8%
Answered by | 09 Dec, 2013, 01:31: AM
