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A= Rs. 7920, I= Rs. 720 and, T = 2 years...

A= Rs. 7920, I= Rs. 720 and, T = 2 years. Find the principal and rate of interest.

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The correct Answer is:
`Rs. 7200;5%`
A=Rs. 7920, I=Rs. 720, T=2 years
`P=A-I=Rs.(7920-720)=Rs. 7200`
P=Rs. 7200
Rate of interest`=(1xx100)/(PxxT)%`
`=(720xx100)/(7200xx2)%=5%`pa
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