21.A sum of Rs. 700 amounted to Rs.1050 in 5 years. What is the rate of interest?
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Answered by
0
Answer:
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Step-by-step explanation:
Assume compound interest. If the constant rate on interest is say X (as a fraction i.e. .05 rather than 5%, or .10 rather than 10% - you know what I mean) then X is given by
(1050/700)^(1/5) - 1
I make that 0.0845 or 8.5% p.a.
Answered by
1
Answer:
initial money, p =700
after intrest =1050
so intrest =350
simple intrest =( p×R×T)/100
350=( 700×R× 5)/100
700×5×R= 350×100
R=10%
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