if principal Rs160000, amount Rs191844, time 2 years then what is the rate of interest? show with logarithm
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Answer:
Intrest = Amount - S.I.
= 191844 - 160000 = 31844 Rs.
Now , S.I. = P. R. T ( where R is rate percent)
31844 = 160000 × 2 × R %
31844 / 320000 = R %
Hence , R = 31844 / 3200
R = 9.95 % ( approx)
Hence , rate of interest is 9.95 %.
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