a sum of money amounts to rs 2900 in 8 years and to rs 3000 in 10 years at a certain rate of interest. find rate of interest per annum
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Answer:
to find :
Rate of interest per annum.
Step-by-step explanation:
Interest = p*r*t/100
where p stands for principal,r stands for rate and t for time.
first sum : SI =p*r*t/100 = 2900*r*8/100
r = 232 per annum
second sum: SI =p*r*t/100 = 3000*r*10/100
r = 300 per annum
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