4. At what rate per cent per annum would 56,000 amount to 68,600 in 3 years?
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Answer:
SI=PRT/100
SI=AMOUNT-PRINCIPLE
SI=68600-56000
=12600
12600=56000×R×3/100
1260000=168000R
Therefore RATE PER CENT PER ANNUM=7.5%
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