Question

for Rs.5000/- i got interest amount 3 paise per month what is interest rate

Answer 1

Answer: 7.2x10^(-3) % per annum

Step-by-step explanation:

3paise per month⇒3*12 paisa per year ⇒ Rs. 0.36 per annum

Rate of Interest = (0.36/5000)*100 per annum

=36/5000 =9/1250=7.2x10^(-3)

Rate of Interest is 7.2x10^(-3) % per annum