You ask your best friend to lend you ₹400₹400₹, 400 to buy your favourite toy. He says that he can lend you the money only if you give him an extra ₹10₹10₹, 10 for every six months that pass before you return it.
What is the total amount you must pay him if you return it after one and a half years?
rupees
What is the annual rate of interest he is charging you?
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Answer:
30
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