At what per cent per annum will₹6950 produce ₹347.50as simple Interest in 5 month?
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given,
principal= 6950
SI = 347.50
time = 5 months => 5/12 year
rate = SI × 100/ P × T
=> 347.50×100/6950×5/12
=> 34750/34750/12
=> 12
hence, the required rate is 12% per annum.
principal= 6950
SI = 347.50
time = 5 months => 5/12 year
rate = SI × 100/ P × T
=> 347.50×100/6950×5/12
=> 34750/34750/12
=> 12
hence, the required rate is 12% per annum.
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