Sourav gives an interest of Rs 90 for 2 years at 9% rate per annum. What is the sum he has borrowed?
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Step-by-step explanation:
Given that Rs. 9,680 becomes Rs. 10,648 in one year
therefore, Interest = Rs. 10648− Rs. 9,680= Rs, 968
⇒Rate=
P×t
Interest×100
=
9680×1
968×100
=10%
Thus the rate of interest per annum is 10%.
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