Question
The simple interest accrued in five years on a principal
of Rs. 50,000 is one – tenth of the principal. What is the rate of simple interest pa?Solution
Principal = Rs. 50,000 Simple Interest = 1/10 × 50,000 = Rs. 5,000 Time = 5 years Rate = (SI × 100)/(P × T) = (5000 ×100)/(50000 ×5) = 2%
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