the simple interest earned on a certain sum in 5 yrs is 30 % of the sum. Find the rate of interest
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Answer:
Rate=6 Years
Step-by-step explanation:
Let the principle be x
Therefore, SI=30x/100=3x/10
Rate=y
Time=5 years
SI=p*r*t/100
3x/10=x*y*5/100
=>3x=x*y*5*10/100
=>30x=x*y*5
=>30x/x=y*5
=>30/5=y
=>y=6
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