1. Simple interest on a sum of Rs 6800 for 18 months is Rs 2244. What is the rate (in percentage) of interest per annum ?
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By: anil on 05 May 2019 02.04 am
Principal sum = Rs. 6800 and simple interest = Rs. 2244 Let rate of interest = $$r\%$$ and time period = $$frac{18}{12}=1.5$$ years => Simple interest = $$frac{P imes R imes T}{100}$$ => $$frac{6800 imes r imes1.5}{100}=2244$$ => $$102r=2244$$ => $$r=frac{2244}{102}=22\%$$ => Ans - (D)
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