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A certain sum of money lent out at simple interest amounts to Rs.1380 tn 3 years and Rs. 1500 in 5 years. Find the rate per cent per annum.
A certain sum of money lent out at simple interest amounts to Rs.1380 tn 3 years and Rs. 1500 in 5 years. Find the rate per cent per annum.
1). 3%
2). 3.5%
3). 4%
4). 5%
1). 3%
2). 3.5%
3). 4%
4). 5%
This Question has 2 answers.
5% seems correct.
I think it may be right answer
If principal = x and rate = r%
per annum, then
R = $(\frac{1380-1500}{1500\times3-1380\times5})\times100$%
= 5%
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