A sum of RS 46875 was lent out at S.I nd at the end of 1years 8 months the total amount was (A)50000 find the rate of interest
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Replies (1)
Interest = Amount - principal
Interest = 50000 - 46875
I = 3125
Interest = Principal * Rate of Interest * Time
3125 = 46875 * R/100 * 20/12
Rate = (3125 * 12 * 100) / (46875 * 20)
Rate = 4%
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