At what rate of interest per annum did Neha borrow ₹25000 from a bank, if she paid back ₹ 33750 after 5 years? percentage
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Answer:
rate = 7%p.a.
Step-by-step explanation:
Amount = 33,750rs
principal = 25,000
SI=A-P
SI = 8,750
P×R×T/100= 8,750
R=8750×100/P×T
R=875000/125000
R=875/125(cutting 1000 from upward and downward)
R= 175/25( divisible by 5)
r= 7%( because 25×7=175)
Rate= 7%p.a.
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