ajay deposited rs35,000 in a finance company for 4 years and received rs45,500 in total. what was the rate of simple interest per annum?
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Answered by
49
Given,
time = 4 year
Amount = 45500
principal = 35000
SI = 45500-35000
= 10500
rate = ?
rate = SI × 100/ P × T
=> 10500×100/ 35000×4
=> 1050000/140000
=> 7.5
hence the required rate is 7.5%
time = 4 year
Amount = 45500
principal = 35000
SI = 45500-35000
= 10500
rate = ?
rate = SI × 100/ P × T
=> 10500×100/ 35000×4
=> 1050000/140000
=> 7.5
hence the required rate is 7.5%
Answered by
6
the rate of simple interest per annum = 7.5 %
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