3 years ago

A tax of 20% is collected on every purchase at a supermarket.

Mathematics

1 answer:

mafiozo [28]3 years ago

5 0

The first three statements are correct while the last statement is incorrect.

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3 years ago

Mohit pays rupees 9000 as an amount on the sum of rupees 7000 that he had borrowed for 2 years.

Sphinxa [80]

Answer:

The required rate of interest = 14.285%

Step-by-step explanation:

Here, The principal amount = 7,000

The final paid amount = 9,000

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Let us assume the rate of interest = R

Now, Simple Interest = Amount - Principal

= 9,000 - 7,000 = 2,000

So, the SI on the given principal for 2 years = 2,000

$\textrm{SIMPLE INTEREST } = \frac{P \times R \times T}{100}\\\implies 2000 = \frac{7,000 \times R \times 2}{100}\\\implies R = \frac{2,000 \times 100}{7,000 \times 2} = 14.285$

or, R = 14.285%

Hence, the required rate of interest = 14.285%

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