Question

At what rate of simple interest will Rs.5000 amount to Rs.6050 in 3 years?

Answer 1

Step-by-step explanation:

$6050 = 5000 + interest \\ 6050 - 5000 = interest \\ 1050 = interst \\ simple \: interst \: = \frac{prt}{100} \\ 1050 = \frac{5000 \times r \times 3}{100 } \\ r = \frac{1050 \times 100 }{5000 \times 3} \\ r = 7\%$

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Answer 2

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