Rahul borrowed 50,000 rupees from a Bank on 1 March 2014 and paid 53,150 rupees on 6 October 2014 . Find the rate of interest charged by the Bank .
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Answer:
50,000 and A = Rs. 53,150.
n = 6 Oct, 2014 - 1 Mar, 2014 = 8 months 6 days = 8 6/31 months = 254/31 months = 254 / (31*12) years.
Therefore, the interest rate charged by the bank is 9.22%.
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the correct is 9.2 persent pls make
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