Rahul borrowed 50,000 from a Bank on 1 March 2014 and paid * 53,150 on 6 October
2014. Find the rate of interest charged by the Bank.
time
of the bank
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1
Answer:
0.9%
Step-by-step explanation:
rate of interest charged by the bank=53,150-50,000
=3,150
rate of interest=3,150 divided by time
=3150/7
=450
by percentage=450 divided by 50,000 multiplied by 100
=0.9%(approximate value)
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