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Please briefly explain why you feel this user should be reported.
a) 9.5%
b) 8.5%
c) 7.5%
d) 6.5%
correct answer is: c) 7.5%
Explanation
Here,
P = ₹ 5200
SI = ₹ 975
T =2\frac{1}{2} or \frac{5}{2} years
We know, Rate =\frac{100\times S I}{P\times T}
\therefore Rate =\frac{100\times975\times2}{5200\times5}
\rightarrow\ 7.5% p.a.
Ans: Rate 7.5% p.a.
