Nikhil borrowed Rs.7500 from his friend and after 1 year he returned 8250 to his friend, Calculate the simple interest and rate of interest.
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Answer:
11%
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P=7500
A=8250
SI=A-P
=8250-7500
=750
Rate = PRT/100
=750*R*I/100
=75*R*I/10
=7.5%
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