The simple interest earned on a certain sum in 5 years is
30 % of the sum. find the rate of interest
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Let the sum be Rs P
Thus,S.I.=30% of P
30/100×P
=Rs 30P/100
=Rs 3P/10
T=5yrs
R=?
S.I.=P×R×T/100
3P/10=PR/20
3(20P)=10PR
60P=10PR
R=60P/10P
R=6%p.a.
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