Question

A man borrows Rs. 1200 from a bank for a period of
3 months. He finds he has to repay Rs. 1236. Find
e bank rate of interest​

Answer 1

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S.I.= Principal*Rate of interest*Time/ 100

1236= 1200* R* 1/4

1236= 300*R

1236/300=R

4.12% = R

Therefore, Rate of interest is 4.12%

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