A sum of Rs.25000 amounts to Rs.31000 in 4 years at the rate of simple interest what is the rate of interest?.
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Answer:
P = 25000
A = 31000
T = 4 years
SI = 31000 - 25000 = 6000
R = ?
Step-by-step explanation:
SI = PRT/100
6000 = (25000 * R * 4)/100
6000 = 100000R/100
6000 = 1000R
R = 6% p.a.
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