The current price of table fan is 280.A customer pays 120 and pays remaining at the rate of 15 rs per month in 12 months .What is the rate of simple intrest?
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Answer:
7.14%
Step-by-step explanation:
given,P=280rs
A=120+(12*15)
=120+180
=300rs
so, SI=(300-280)rs
=20rs
T=12months
=1year
R=100*SI/P*T
=100*20/280*1
=2000/280
=7.14%
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