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A sum of money becomes 7/6 of itself in 3 years at a certain rate of simple interest. The rate per annum is? |
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Answer» 5 5/9 % LET sum = x. Then, amount = 7x/6 S.I. = 7x/6 - x = x/6; TIME = 3 years. Rate = (100 * x) / (x * 6 * 3) = 5 5/9 |
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