. One person credited Rs.100. After 2 years he returns Rs. 150. Find the rate of interest per year
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Step-by-step explanation:
Principal= Rs. 100
Amount= Rs. 150
Interest= Rs. 150-100 = Rs. 50
Time= 2 years
-: Simple Interest :-
S. I = P×R×T/100
50 = 100×R×2 / 100
50= 2R
R = 25% p. a
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