At what rate of simple interest will rs 5000 being an interest of rs 2200 in 5 years and 6 months ?
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simple interest = principle ×time×rate/100
2200=5000×11/2×r/100
2200=50×11/2×r
220=55/2×r
440/55=r
8=r
rate is 8%
The explanation for time
5 and a half years mean 5 1/2 years (mixed fraction)
which is 11/2 years.
2200=5000×11/2×r/100
2200=50×11/2×r
220=55/2×r
440/55=r
8=r
rate is 8%
The explanation for time
5 and a half years mean 5 1/2 years (mixed fraction)
which is 11/2 years.
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