If the simple interest earned on a sum of money at the the end of 7years is 56% of the principal, what is the rate of interest
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8
Step-by-step explanation:
Let the principal be=P
Time =7 years
56% of principal
=>simple interest=56p/100
S.I= PTR/100
=>56P/100=P×7×R/100=
=>56P=7PR
=>56=7R
=>7R=56
=>R=56/7=8
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