At what rate percent per annum will the simple interest on rs 6950 be rs 34750 in 5 months
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Answer: Rate= 97%
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Step-by-step explanation:
P=6950
A=34750
SI=A-P
=34750-6950
=27800
T=5months
=5/12yrs
SI =P*R*T/100
27800=6950*R*5/100*12
After shifting:
R= 27800*100*12/6950*5
=13440/139
=96.69%
=97%(Round off)
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