Question
If the ratio of the sum invested and simple interest
received after 1 year is 25:16 respectively, then find the rate of interest.Solution
Let the sum invested and simple interest received be Rs.25x and Rs.16x respectively. Let the rate of investment be r% p.a. Therefore, {(25x x 1 x r)/100} = 16x => r = 64%
RBI is authorized to accept deposit without interest from?
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