* 2. Find the rate, if sI = 150, principal (P)
= * 1000 and time (T) = 2 yr.
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Answer:
Rate of Interest =7.5%
Step-by-step explanation:
Principal Amount =Rs 1000
Time=2 years
Simple Interest =Rs 150
Let Rate of Interest be x
SI=PRT/100
150=P×R×T/100
150=1000×x×2/100
150×100=1000×x×2
15000=1000×x×2
15000÷1000=x×2
15=x×2
15÷2=x
7.5=x
Rate of Interest =7.5%
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