Find the rate of interest per annum if the simple interest on Rs. 7500 for 2 years is Rs. 1500. Options 5% 8% 7% 10%
Question
Solution 1
To find the rate of interest per annum, we can use the formula for simple interest which is:
I = PRT/100
where: I = Interest P = Principal amount (the initial amount of money) R = Rate of interest T = Time (in years)
In this case, we know that the Interest (I) is Rs. 1500, the Principal (P) is Rs Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
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