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Question 51
A sum of ₹ 8250 gives simple interest of ₹ 2475 in 5 years. What will be the rate of interest per annum?
Solution
Given, Principal = Rs.8250
Time period = 5 years
Let the rate of interest = R%
$$\dfrac{8250\times R\times5}{100} = 2475$$
=> $$R = 6$$
Therefore, Rate of interest = 6%
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