Practicing Success
Practicing Success
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If the ratio of principal and the simple interest for 5 years is 10 : 3, then the rate of interest p.a. is: |
5% 6% 8% 3% |
6% |
Total interest \(\Rightarrow \) \(\frac{3}{10}\) × 100 = 30% Total Interest = Rate p.a. × time 30% = Rate p.a × 5yrs Rate p.a. = 6% |
