Question

Find at what rate of interest with 5000, amounts to Rs. 6200 in 3 years.

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Answer 1

8%

Step-by-step explanation:

Principal = 5000

Amount = 6200

Time = 3yrs

Simple interest = 6200–5000 = 1200

Rate of interest = $\frac{si \times 100}{p \times t}$

=$\frac{1200 \times 100}{5000 \times 3} = 8\%$

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