Suppose you are a vegetable retail trader and have borrowed Rs.3000 from moneylender. How much you have to pay while returning the money after three months?
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"You have not mentioned the rate of interest. The amount borrowed is Rs 3000 and the time is 3 months.
But since there is no rate then it will be difficult to come up with the actual amount of the whole equation.
Once you have that then you can use the formula,
Simple interest = P * R * T / 100
"
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Answer:moneyleaders put up very high interest rates.but as you havent meantioned any,there isnt an actual answer to it.
but in general its is,
p*r*t/3*100
Explanation:
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