Raghav borrowed ₹60000 from a bank on 1 St March and paid back ₹63,150 on 6th october. Find the rate of intrest charged by the bank
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Step-by-step explanation:
SI = A-P = ₹63,150 - ₹ 60,000 = ₹ 3,150.
P = ₹ 60,000.
T= March = 31.
April - 30.
May - 31.
June = 30.
July - 31.
August - 31
September - 30.
October = 6.
Total = 220 days.
1yr = 365 days
220/365 - 44/73.
R = 3150* 100 * 44/60000 * 73.
= 231/73
3.16%. Ans.
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