Math, asked by ranjeetkumarverma207, 6 months ago

Rahul borrowred ₹ 50,000 form a bank on 1 march 2014 and paid ₹ 53,150 on 6 october 2014. Find the rate of interest charged by the bank.​

Answers

Answered by ayushbag03
5

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%

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