If the simple interest on a certain sum of money for 3 years is three-tenth of the sum ,then find the rate of interest per annum.
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Answered by
15
Answer:
10% per annum
Explanation:
Let the Principal be P.
Simple Interest (SI) = 3/10 P
Time (T) = 3 years
Let the Rate of interest be R.
SI = PRT/100
3/10 P = P × R × 3 / 100
R = 10% per annum
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Answer:
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