Question
A sum of Rs 12,000 becomes Rs 15,600 in 3 years at simple interest. Find the rate of interest per annum.
Solution
SI = A − P = 15,600 − 12,000 = 3,600 SI = (P × R × T)/100 3,600 = (12,000 × R × 3)/100 3,600 = 360R R = 3,600 / 360 = 10 Answer: Rate = 10% per annum.
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