If the interest on a sum of Rs 5250 for a year is Rs 420, what is the rate percent of interest per annum?
Asked by Topperlearning User | 4th Jun, 2014, 01:23: PM
Rate percent per annum means interest given on Rs 100 for a year
Let the interest for Rs 100 per annum be Rs x .
Principal : Principal :: Interest : Interest
5250 : 100 :: 420 : x
Product of extreme terms = 5250x
Product of the middle terms =
Hence, percent rate of interest per annum is 8%
Answered by | 4th Jun, 2014, 03:23: PM
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