A sum of money ₹ 1600 gives a simple interest of ₹224 in 2 year. Rate% of per annum.
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Answered by
0
Answer:
rate is 7 percent per annum
Step-by-step explanation:
R=SI×100/(P×T)
= 224×100/(1600×2)
= 7
Answered by
0
Step-by-step explanation:
p = principle
r = rate
t = time period
simple on interest = p×r×t/100
224 = 1600×r×2/100
224 = 3200r/100
224 = 32r
224/32 = r
7 = r
so rare of interest is 7%
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