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Saturday, January 4, 2020

Mr. Rakesh has Rs. 90,000 in a savings account that earns

Mr. Rakesh has Rs. 90,000 in a savings account that earns him an interest of Rs. 5400 after two years. What is the rate of interest?
A2%
B5%
C3%
D10%

Correct answer is: 3%

Explanation:

P = Rs. 90,000 , S.I. = Rs. 5400, Time = 2 years

Therefore

Now, R=100×S.IP×R

= 100×540090000×2

= 549×2

= 5418

= 3% p.a.

prakash
answered Jan 6 '2020 at 10:21

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