7. David borrowed 4575 on 1 July 1995 and returned the amount on 31 December 1996.
If the rate of interest was 101/2% what amount did he return
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simpleintrest=
100
p×n×t
=
2×100×12
4575×21×18
=
4×100
4575×63
=720.56
nowforamount
asweknow
amount=principle+s.i
amount=4575+720.56
amount=5295.56
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