A weaver who had taken a loan of ₹ 40,000 from a money lender finds that he has to pay ₹ 44,500 to clear his dues after only 75 days. Find the annual rate of simple interest charged by the money lender. 

Asked by Cl_narayan | 19th Nov, 2019, 04:23: PM

Expert Answer:

A weaver who had taken a loan of ₹ 40,000 from a money lender finds that he has to pay ₹ 44,500 to clear his dues after only 75 days
Principal = Rs. 40,000

Answered by Arun | 19th Nov, 2019, 04:43: PM

Queries asked on Sunday & after 7pm from Monday to Saturday will be answered after 12pm the next working day.