Question

shyam borrowed Rs 8000 on simple interest and after 3 years he paid Rs 1440 more than principle .the annual rate is ?
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Answer 1

Step-by-step explanation:

P= 8000

T=3 years

intrest= 1440

I= PRT/100

1440=8000×3×R/100

R=1440/(80×3)

R=6%pa