A man deposited 1000 rupees in a bank for 2 years. In return he got 1440 rupees. Find the rate of interest.
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Answer:
amount = p×t×r/100
1440 = 1000×2 ×r/100
r= 1440×100/1000×2
r= 72%
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Answer:
According to the statement given above he got interest of Rs. 220 per year.
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