What rate of interest will give 6400Rs as the interest on a sum of 32,000 rs in 4 years .
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Step-by-step explanation:
Given, SI =46400.
time period T = 5 years
principal, P = Rs 32,000.
Rate of interst = R.
we know,
SI=
100
P×R×T
⇒R=
P×T
SI×100
32000×5
64000×100
= 4%.
Hence rate of interest , R = 4 % .
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