Question

At what rate of simple interest will rs5000 amount to rs6050 in 3 years and 4 months?

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Answer 1

Answer:

Formula : A = P (1+ rt) where, A = total accrued (Principal + Interest) P = Principal amount; I = Interest; r = rate; T= Tenure %3D %3D r = (1/t) (A/P-1) = (1/40) (6050/5000 - 1) = 0.00525 Converting r to R as percentage: R = 0.00525 * 100 % = 0.525 % per month R = 0.525 % per month * 12 months = 6.3 % per month

Step-by-step explanation:

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Answer 2

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