You ask your best friend to lend you ₹, 300 to buy your favourite toy. She says she can lend you the money only if you give her an extra ₹3₹3₹, 3 for every three months that pass before you return it.
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Step-by-step explanation:
your friend asks for RS 3 every 3 months,so in 9 months,you have to pay 9 RS extra so the amount you must pay after 9 months is 309. the annual rate of interest will be basically the money you will have to give him after 12 months period which will be 12 RS the annual rate of interest is 12 pcpa.
I THINK IT WILL HELP YOU BRO
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