Rahul borrowed 50,000 from a Bank on 1 March 2014 and paid 53,150 on 6 Octob
2014. Find the rate of interest charged by the Bank.
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Step-by-step explanation:
find the interest first
53,150 - 50,000
= 3,150 intrest
period for interest=1 march2014 to 6 october2014
= 31 + 30+ 31 + 30+ 31 + 31 +30 +6 = 220 =220 multiply by 365 = 50,000 = 22000 divide by 50,000 = Ans = interest is 3650
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