InvestorQ : at what percent SI does Rs.83000 amount to Rs.93000 in 2 years
bharath Gowda made post

at what percent SI does Rs.83000 amount to Rs.93000 in 2 years

Answer
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Suresh Patil answered.
3 months ago
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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%

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