A sum of Rs. 1600 earns a simple interest of Rs. 252 in 2 years 4 months. Find the rate of interest per annum. [R=6 3 4 \%]
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Answer:
Given, P = Rs 1600 and Time = 2 years 4 months and I = 252
T=2412
T=73years
We know that,
R=(100×I)(P×T)
=(100×252×3)(1600×7)
= 6.75
Hence, the rate of interest is 6.75%.
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Answer:
6.75 is ans
252.2.4/100=6.75
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