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The simple interest on a certain sum of money at the rate of 5% p.a. for 8 years is Rs. 840. At what rate of intrest the same amount of interest can be received on the same sum after 5 years. |
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Answer» 8% Here FIRSTLY we need to CALCULATE the principal AMOUNT, then we can calculate the new rate. P=(S.I.∗100)/(R∗T) |
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