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Question

Find the rate per cent per annum if :
Rs 350 yields Rs 105 interest in 6 year.

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Solution

Given that,
Principal P=Rs.350
Rate =R% p.a
S.I.=Rs.105
Time T=6 years

S.I=PTR100

105=350×6×R100

105=21R

R=10521

R=5

Rate=5% p.a.

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