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If the interest of a principal in `2` years be `(1)/(8)` of it, then find the rate of simple interest per annum. |
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Answer» Let the principal `=Rs p` and rate of interest `=r%` As per question, interest `=Rs pxx(1)/(8)=Rs (p)/(8)` Time , `t=2` years `:. Rs(p)/(8)=Rs(pxxrxx2)/(100)` [by formula] or, `r=(100)/(2xx8)=(25)/(4)=6(1)/(4)` Hence the required rate of simple interest per annum `=6(1)/(4)%` |
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