at what percent SI does Rs.83000 amount to Rs.93000 in 2 years
Answer
Answer
The simple interest formula says :
A=P (1+rt)
Here, A= Amount - Rs.93000
P - Rs.83000
t - 2years
r - We have found out.
So, 93000 = 83000 (1 + rx2)
= 83000 (1+2r)
= 83000 + 166000r
166000r = 93000 - 83000
166000r = 10000
r = 10000/166000 *100 = approx 6%