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.
Answers
Answered by
730
No of days = 219
Interest charged for 219 days = 3150
Rate of interest for 219 days=3150/50000 =6.3%
Hence yearly interest rate charged:
=6.3 x 365/219
=10.5%
Plzzz mark me as brainliest
Interest charged for 219 days = 3150
Rate of interest for 219 days=3150/50000 =6.3%
Hence yearly interest rate charged:
=6.3 x 365/219
=10.5%
Plzzz mark me as brainliest
Answered by
151
R=100*I/p*T
I=3150 ,p=50000 , t=7month 5days
t=7/12 years
Rate= 10.8
I=3150 ,p=50000 , t=7month 5days
t=7/12 years
Rate= 10.8
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