If reena pays an intrest of rs.1080 for 2 years on a sum of rs.9000,find the rate of interest.
Find it.
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Answer:6%
Step-by-step explanation:
I=1080rs
P=9000rs
n=2years
r=?
I= Pnr
r= l/(P*n)
r=1080/(9000*2)rs
r=0.06rs
r=0.06*100rs
r=6%
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