4/5 of the amount of a certain principle in 5 years is equal to the principle. find the rate of simple interest
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What is the principal amount of interest?
The principal amount is Rs.12 lakh, the interest rate is 7%, and the tenure is 5 years. The interest you will end up paying will be: 12,00,000 x 7 x 5 ÷ 100 = Rs.4,20,000 The interest you will be paying over the period of 5 years will be Rs.4.2 lakh. Therefore, the total repayment you will make will be Rs.16.2 lakh.
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