calculate the rate at which #30,000 will yield interest of #75,000 in 2years
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Interst rate=Interest×100
Original×Time
=75000×100
30000×2
=75×5 [by cancelling 75000 & 30000;
30 30 & 100; 10 & 2]
=75 [by cancelling 5 & 30]
6
=25 [by cancelling 75 & 6]
3
=8 1/3 %
Ans:8 1/3%.
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