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After 3 years a d 4 months,when a farmer paid back a loan, he found that exactly half the amount that he paid back was intrest.At what rate of intrest had he taken the loan |
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Answer» Step-by-step EXPLANATION:Let the PRINCIPAL be ₹100So interest=₹100Let the RATE of interest=R%p.a.Time=3 years 4 months=10/3 yearsFormula for calculating rate of interest----------------------------------------------------------R=100I/PT=(100×100)/(100×10/3)=100×3/10=30%So the rate of interest is 30% per annum.Hope you GOT it. |
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