Q.If the amount becomes ₹198 in 1 year from a principal of ₹180, what will be the annual simple interest rate?

If the principal of ₹180 amounts to ₹198 in 1 year, then the annual simple interest rate is 10%. ___ Interest = \(198 - 180 = ₹18\) \[ \therefore\ \text{Rate of Interest} = \cfrac{100 \times 18}{180 \times 1}\% = 10\% \]
Similar Questions