Question

Rahul borrowed Rs. 50000 from a bank on 1 march 2014 and paid Rs. 53150 on 6 October 2014. Find the rate of interest charged by the bank

Answer 1

Answer:

393•75 X 8 = 3150..

so..53,150-50,000 = 3,150

then 50,000 in 8months is 50,000+ 3,150= 53,150