At what rate of simple intrest a sum of ₹ 2600 yields ₹1040 after 5 years ?
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dont know
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➵ Let the rate of S.I be x
⟼ Principal = Rs. 2600
⟼ Time = 5 years
⟼ S.I = Rs. 1040
By using the formula :
➢ S.I = (P×R×T)/100
⟼ 1040 = (2600×x×5)/100
⟼ 1040 = 130x
⟼ x = 1040/130
∴ x = 8% p.a
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