If in 10 yr, ₹200 amounts ₹300, find the
rate of interest.
(1) 10%
(2) 11%
(3) 15%
(4) 18%
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Step-by-step explanation:
A = 300
P = 200
If Simple interest is calculated,
A = P + ( PRT / 100 )
A = 200 + ( 200 × R × 10 / 100 )
300 = 200 + 20R
20R = 100
R = 5%
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