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An amount of Rs. 45,000 becomes Rs. 75,375 on simple interest in 9 years. What is the rate of interest p.c.p.a?1). 72). 7.53). 84). 10.5 |
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Answer» = 75375 – 45000 = RS 30375 $(S.I.\; = \frac{{P \times R \times T}}{{100}})$ Where, S.I. = Simple Interest P= Principal T = Time R = Rate of interest ∴ $(30375\; = \frac{{45000 \times R \times 9}}{{100}})$ ⇒ $(R = \frac{{30375 \times 100}}{{45000 \times 9}})$ ⇒ R = 7.5% |
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