Practicing Success
Practicing Success
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If the simple interest for 9 years be equal to 45% of the principal, then the rate of interest per annum is equal to: |
5% 8% 9% 6% |
5% |
Let principal = 100% & Simple Interest = 45% We know , Simple Interest = \(\frac{Principal ×Rate × Time }{100}\) 45 = \(\frac{100 ×Rate × 9 }{100}\) Rate = 5% |
