kis varsik byaj ki dar se 500 rupya ka 3 varsh me 605 rupya ho jayega.
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Answer:
principal=₹500
amount=₹605
amount=principal+simple interest
605 = 500+S.I.
S.I.= 605 - 500
=₹105
But,S.I.=(Principal×time×rate)/100
105=(500×3×rate)/100
105×100=1500×rate
10500/1500=rate
rate=7%p.a.
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