SOLUTION: a man borrowed ₹ 3000 on 1st April and returned ₹ 3144 on 13th June same years. Find the rate of simple interest charged.
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Question 1129705: a man borrowed ₹ 3000 on 1st April and returned ₹ 3144 on 13th June same years. Find the rate of simple interest charged. Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! That is 72 and since banks often use 360 days a year, that is (1/5) of a year
interest=prt=3000*r*(1/5)=600r
144=600r
r=24%
