find the rate of interest when : P =₹1200 ; | = ₹337.50 ; T = 6 1/4 years
pls solve this with full explanation pls.
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Simple Interest= P*R*T/100
Putting the given values↗
337.50=1200*R*61/400
337.50*400=1200*R*61
135000=R*73200
135000/73200=R
R=1.84
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Answer:
p=1200. T =61/4years. SI=337.5rupees
let rate of interest=X
simple interest= principal balance×rate×time/100
337.50=1200×X×61/4×100
337.50=61×3X
X=337.5/183
X=16.59
Hence rate=16.59%
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