find the simple interest if
(ii) the interest on 1000 for 5 years amounts to ₹300.
Please help me
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Answer:
principal amount was : 1000
interest was. : 300
time was. : 5 years
formula of simple interest : PTR /100
ANSWER :. = PTR/100
=1000 × 5 × R
_____________. =300
100
= 300 × 100 / 5000 = R
= 30000/5000
= 6%
Rate was 6% percentage on interest
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