The difference between the simple interest on Rs 1500 for 4 yrs at some rate of interest and Rs 3000 for 2 yrs at some other rate of interest is Rs 360. Then the difference between the rate of interest is:
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S I=P×R×T/100
P=Principle
R=Rate Of Interest
T=Time
S I=Simple Interest
P=1500/-
R=?
T=4years
S I=360
360=1500×R×4/100
360=6000R/100
360=60R
R=360/60
R=6%
On Another Principle
S I=360
P=3000
T=2 Years
R=?
360=3000×R×2/100
360=6000R/100
360=60R
R=360/60
R=6%
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