Nitesh deposited 38000 Rs in a finance company for 3 years and received 53870 Rs in all as amount after 3 years. What was the rate of simple interest per annual.
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p = 38000. a=53870. t=3 yrs
si = a-p = 53870-38000=15870
r=si*100/pt=15870*100/38000
*3=13.35%pa
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