Question
A sum of ₹18,000 gives a simple interest of ₹3,240
in 2 years and 3 months. The rate of interest per annum isSolution
3240 = 18000 × r × 2.25 / 100 ⇒ r = (3240 × 100) / (18000 × 2.25) ⇒ r = 324000 / 40500 ⇒ r = 8%
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