A man paid ₹8640 for a loan of ₹8000 taken for 320 days. Find the rate of simple interest charged by the bank
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Step-by-step explanation:
Amount ₹8640
Principal ₹8000
Time 320days into years 320/365=64/73
Rate?
Interest = 640
Rate = 640into100/64/73 into 8000
Rate = 73/8%=9 1/8%
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