Samniki20
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A sum of Rs 1,250 amounts to Rs 1,550 in 4 years at a specific simple interest rate.
What is the rate of interest?

Respuesta :

helvarthology

Answer:

0.06

Step-by-step explanation:

- simple rate of interest has a formula A = P(1 + rt)

A is  final amount

P is the original amount

- replacing the values in the formula you get

1550= 1250 ( 1 + r*(4))

- rearrange and calculate r

(1150/1250) -1 = 4r

4r = 0.24

r = 0.24/4 = 0.06 %

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