A sum of money at S.I amounts to rupees 2800 in 2 years and rupees 3250 in 5 years. Find the rate of interest.
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Answer:
Rate Of Interest = 560/13 %
Step-by-step explanation:
Here as we need to find out Rate Of Interest.
The process will be :-
Principal/ Sum = Rs. 3250
Time = 2 Years
Simple Interest = Rs. 2800
S.I = Principal x Rate of Interest x Time
=> 2800 = (3250 × R × 2) ÷ 100
=> 2800 = (325 × 2R) ÷ 10
=> 2R = 2800 × 10 ÷ 325
=> 2R = 560 × 2 ÷ 13
=> R = 560 ÷ 13
=> R = 560/13 %
=> R = 43.83.. %
Therefore, Rate Of Interest is 560/13 %.
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