Question

loan is borrowed of Rs 800,000 for 4 years and simple interest payable on loan is 650,000 find interest rate * a) 18.2% b) 18.3% c) 18.03% d) 20.3%​

Answer 1

Answer:

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Answer 2

Answer:

SI = P x N x R /100

650000 = 800000 x 4 x R /100

R = 650000 x 100 / 4 x 800000

R = 650/32

R = 20.3%