If Rs. 7300 amounts to Rs. 7301, in 1 day, find the rate of simple interest.
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Answer:
simple interest = amount - principal = 7301-7300
=1
SI= P× R× T/ 100
1= 7300× R× 1/100
R= 1× 1/7300× 100 = 1/ 73= 0.0136986301
Therefore, rate of SI is 0.0136986301% p. a
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