The simple interest on ₹ 2500 for 3 years is ₹ 600. find the rate of interest.
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Answer:
simple interest = Rs. 600
principal= Rs. 2500
Time=3 years
rate=?
si= p×r×t/100
600= 2500×r×3/100
600= 7500×r/100
600= 75r
r= 600/75
r= 8%
rate of interest= 8%
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