man got Rs 130 less as simple interest when he invested Rs 2000 for 4 years as compared to investing Rs 2050 same duration. What is the rate of interest?
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Answer:
65%p.a.
Step-by-step explanation:
Working Formula:
S.I.=(P*R*T)/100
Simple Interest on Rs. 2050
S.I.=(P*R*T)/100 =(2050*R*4)/100 =8200R/100 =82R
Simple Interest on Rs. 2000
S.I.=(P*R*T)/100 =(2000*R*4) =8000R/100 =80R
Difference in Simple Interest
82R-80R=130
or, 2R = 130
∴R=65
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