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What rate gives Rs 300 as interest on a sum of Rs 60000 in 2 years |
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Answer» , Principal (P) = Rs. 56,000, SIMPLE Interest (S.I.) = Rs. 280, Time (T) = 2 years Simple Interest = \frac{P\times R\times T}{100} 100 P×R×T
\RIGHTARROW\ 280=\frac{56000\times R\times2}{100}\Rightarrow R=\frac{280\times100}{56000\times2}⇒ 280= 100 56000×R×2
⇒R= 56000×2 280×100
\Rightarrow\ R\ =\ 0.25\%⇒ R = 0.25% Hence, the rate of interest on sum is 0.25%. |
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