Mr. Deepak invested an amount of ₹ 21250 for 6 yr. At what rate of simple interest, will he obtain the total amount of ₹ 26350 at the end of 6 yr?

Question

Accepted Answer

SI = 26350 - 21250 = ₹ 5100 ∴ Rate = (SI x 100) / (Principal x Time) = (5100 x 100) / (21250 x 6) = 4%

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