a sum of money amounts to rs 7475 in 3 years and rs 7800 in 4 years at the rate of simple
interest. the rate of interest is?
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Step-by-step explanation:
Interest for 1 year = 7800 - 7475
= 325 Rs
If a sum becomes a1 in t1 years and a2 in t2 years the rate of interest.
= 100(a2 - A1)/ a1.t2 - a1.t1
= 100(7800-7475)/ 7475×4 - 3×7800
= 32500/6500
=5%
Principal = SI × 100/ Time × Rate
= 325×100/ 1×5
= 6500 Rs
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