Find the rate if the interest charged for 6 months be 0.18 times the money borrowed
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it is a simple interest question or a compound interest question
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Answer:
let principal be x
interest=0.18x
time=6months=1/2yr
we know
R%=P×T/I×100
R%= x×1/0.18x×100×2
= 0.18×100×2(x and x gets cancelled)
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