Question

At what rate per cent per annum the simple interest on Rs 300 in 3 years will be Rs 45

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Answer 1

Simple Interest=Rs.45

Principal=Rs.300

Time=3 years

SI=P×R×T/100

=> 45 = 300×R×3/100

=> 45 = 9×R

=> 45/9 =R

=> R = 5% per annum