The principal money is P=2000.
The time is t=20 years.
The value of amount is A=10,000.
Determine the intrest obtained on the principal amount.
[tex]\begin{gathered} A=I+P \\ 10000=I+2000 \\ I=10000-2000 \\ =8000 \end{gathered}[/tex]The formula for the intrest on the principal money is,
[tex]I=\frac{P\times R\times t}{100}[/tex]Substitute the values in the formula to obtain the rate percentage.
[tex]\begin{gathered} 8000=\frac{2000\times R\times20}{100} \\ R=\frac{8000}{400} \\ =20 \end{gathered}[/tex]The value of intrest rate is 20%.
