At what rate of interest per annum will a sum of ruppee 8,000 amount to ruppee 9,260 in 7/2 years ?
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Answer:
Amount = 9,260
principal =8,000
Interest = A - p
=9260 - 8000
=1,260
rate of interest = 100*I/PT
=100*1260/8000*7/2
=9/2
= 4 years 1 month
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