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Amount, Principal and Interest

At what rate ...

Question

At what rate percent shall a sum of ₹400 amount to ₹520 in 5 years ?

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Solution

Simple Interest = 520 - 400 = Rs. 120

Formulae for SI = p x r x t /100
120 = 400 x r x 5/100
120/5 = 4 x r
r = 6 %

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