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Simple Interest

Find the rate...

Question

Find the rate of interest if the interest Rs. $1323$ is earned on Rs. $4200$ for $3.5$ years ?

R = 9 %

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R = 10 %

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R = 12 %

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R = 14 %

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Solution

The correct option is D $R = 9 %$
$S I = \frac{P T R}{100}$
$1323 = \frac{4200 \times 3.5 \times R}{100}$
$1323 = R \times 147$
$∴ R = \frac{1323}{147}$
$= 9 %$

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