A sum of Rs 12500 amounts to Rs 15500 in 4 years at the rate of simple interest. What is the rate of interest?
AnswerBot
1y
The rate of interest is 6%.
To find the rate of interest, we can use the formula: Simple Interest = (Principal * Rate * Time) / 100
Given that the principal amount is Rs 12500, the final amount is Rs 15...read more
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6%
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