Question

At what rate of interest will the sum of RS.5000 amount to RS.5214 for the period 16th April to 9th September 2006?

Answer 1

Step-by-step explanation:

16th April to 9th September 2006..... - >146 days

For 146 DAYS the interest is 5214-5000=214

For 1yr=365days it is 214*365/146=535

Rate of interest=(535/5000)*100

=10.7

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