Math, asked by tumanpandre86280, 8 months ago

7. Rahul borrowed 50,000 from a Bank on 1 March 2014 and paid 53,150 on 6 October
2014. Find the rate of interest charged by the Bank.​

Answers

Answered by allorasharma
1

Answer:

Step-by-step explanation:

53,150. n = 6 Oct, 2014 - 1 Mar, 2014 = 8 months 6 days = 8 6/31 months = 254/31 months = 254 / (31*12) years. Therefore, the interest rate charged by the bank is 9.22%.

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