Question

if rs1680be simple interest on a sum of 8000for 7years then the rate of simple interest is​

Answer 1

Step-by-step explanation:

Hope this answer helps You

Answer 2

Required data✯

simple interest=1680 ruppes

time=7 years

principal=8000 ruppes

rate of Interest=?

we found the rate using formula of rate of interest

the formula is given below

rate of interest=interest×100/principal×time

rate of interest=1680×100/8000×7=3%

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An interest rate is defined as the proportion of an amount loaned which a lender charges as interest to the borrower, normally expressed as an annual percentage. It is the rate a bank or other lender charges to borrow its money, or the rate a bank pays its savers for keeping money in an account.

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