If the interest on Rs. 1200 be more than the interest on Rs. 1000 by Rs. 50 in 3 years, the rate per cent is?

Question

Accepted Answer

Let rate = R% per annum. Then, (1200 x R x 3)/100 - (1000 x R x 3)/100 = 50 ⇒ 6R = 50 ⇒ R = 81/3 ∴ Rate = 81/3% per annum

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