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.
In what time will a sum of money double itself at 15% per annum?
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Answer:
r = 9.45 %
Step-by-step explanation:
s.i = p x r x t /100
3150 = (50000 x r x 8)/ 1200
r = 3150 x 12 / 4000 .r = 945/100
r = 9.45 %
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