Question

At what rate percent on simple interest will Rs.750 amount to Rs.900 in 5 years?
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Answer 1

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Answer 2

$\orange{\huge{SOLUTION}}$

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SI = Amount - Principle

SI = 900 - 750 = 150

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GIVEN

Principle - 750

Time - 5yrs

SI - 150

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SI = $\frac{PRT}{100}$

150 = $\frac{750\times 5\times R}{100}$

15000 = 3750 × R

R = $\frac{15000}{3750}$

R = 4%

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Hence,

Rate of interest = 4%