what is the rate of sumple interst if
the interst on 5000 for 2 years is 600
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Solution :
- Principal, (P) = Rs.5000
- Time, (T) = 2 years
- Simple Interest, (S.I) = Rs.600
As we know that formula of the simple Interest;
A/q
Thus;
The rate of the simple Interest will be 6% .
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