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What must b the rate of interst on Rs40000 to produce Rs2000 in 8 months?
Wiki User
∙ 10y ago
Assuming it is simple interest, the interest is Rs2000 over 8 months. For 12 months the interest would be Rs3000. Hence rate of interest per year would be
(3000/40000) x 100 = (3/40) x 100 = (3/4) x 10 = 30/4 = 15/2 = 7.5%
Wiki User
∙ 10y ago
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