Rahul borrowed Rs 50,000 from a bank on 1st March 2002 and paid Rs 53,150 on 6th October 2002. Find the rate of interest charged by the bank
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simple interest = 53150-50000= 3150
i =p*t*r/100
i = 3150
p= 50000
t= 7+1/6months
3150 = 50000*7*r/100*6
3150*600 = 50000*7*r
R=5.4
i =p*t*r/100
i = 3150
p= 50000
t= 7+1/6months
3150 = 50000*7*r/100*6
3150*600 = 50000*7*r
R=5.4
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