Rs. 9000 becomes Rs. 27000 at simple interest in 10 years. Find the rate of interest per annum. Also
find the time period required to make the initial Principal amount into Rs.45000 with the same rate of interest.
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According to the question :
principal amount(p) = 9000
final amount (f) = 27000
time (t) = 10 year
rate = ?
Simple interest = F - P
= 27000 - 9000
= 18000
simple interest = P×R×T/ 100
18000=9000 × R × 10 / 100
R = 5
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