11) A sum of ₹20000 accumulated to ₹ 50000 , after 12 years. Find the rate of simple interest p.a., which was effective in this situation.
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A sum of ₹20000 accumulated to ₹ 50000 , after 12 years. Find the rate of simple interest p.a., which was effective in this situation.
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Here, P = 20000, A = 50000, T = 12 years(T× is time period)
S.I. = A - P = 50000- 20000 = 30000
S.I. = P × R × T / 100
30000 = 20000 × R × 12/100
12R = 30000/200 = 150
R = 12.5% p.a
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