If principal is 5000 and per month interest is 100 rupees then what will be the percentage
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Principle = 5000
Simple Intrest = 100
Time = per month = 1/12
Then,
Rate = si×100/p×t
==> 100×100×12/1×5000
==> 10×12/5
==> 2×12
==> 24
So the RATE PERCENT is 24% p. a.
Simple Intrest = 100
Time = per month = 1/12
Then,
Rate = si×100/p×t
==> 100×100×12/1×5000
==> 10×12/5
==> 2×12
==> 24
So the RATE PERCENT is 24% p. a.
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