Question

Arun borrowed rupees 4000 from a bank on July 16 paid his loan on December 9 in the same year if he had to pay rupees 4144 to clear his loan find the rate of interest charged by the bank. ​

Answer 1

Step-by-step explanation:

Simple Interest= (P*R*T)/100

P= 4000

SI = 144

t= 146 days

SI = (4000*r*146)/100*365

=> 144 = (4000*r*146)/100*365

=> r= 144*100*365/4000*146

=> r= 5,256,000/584000= 9% ans.

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