Question

interest rate principal 500 interest earned 60 time 3 year​

Answer 1

Answer:

Given that,

principal=rs 500

interest=rs 60

time =3 year

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To find : rate

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using formula of rate

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R=SI ×100/P×T

=60×100/500×3

= 4%per annum

Hence, Your answer is 4% per annum

Hope it helps