1.

The simple interest accrued on an amount of Rs 380 at the end of 8 years is Rs 167.20. What is the rate of interest pa ?

Answer»

5.5 %



LET the RATE of interest be R% pa.
Now, 380 X r x 8/100 = 167.2
∴ r = 16720/380 x 8 = 5.5



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