NCERT Class 7 Mathematics Solutions: Chapter 8 –Comparing Quantities Exercise 8.3 Part 6

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Basic Concept of Profit and Loss are shown

Basic Concept of Profit and Loss

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1. What rate gives as interest on a sum of in years?

Answer:

Principal,

Simple Interest (S.I.) ,

Time (T) years

Simple Interest

So, the rate of interest on sum is

2. If Meena gives an interest of for one year at rate p.a. What is the sum she has borrowed?

Answer:

Simple Interest,

Rate (R) p.a

Time (T) years

Simple Interest

So, the rate of interest on sum is .