a man who deposited rupees 2,000 in a bank got rupees 2040 after 6 months. what was the rate of interest given by the bank?
a man who deposited rupees 2,000 in a bank got rupees 2040 after 6 months. what was the rate of interest given by the bank?
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Answer: 4% p.a.
Step-by-step explanation:Amount=2040
Principal=2000
So, Interest=Amount-Principal=2040-2000=40
Time=6 months=1/2 years
Therefore,Rate of interest =(100*Interest)/(Principal*Time)
=(100*40)/(2000*1/2)
=4