What rate of interest per year was paid, if Tk. 50,000 earned Tk 1000 as interest in 2 years?

What rate of interest per year was paid, if Tk. 50,000 earned Tk 1000 as interest in 2 years? ?

Created: 3 days ago | Updated: 3 days ago | Created By:

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Best Answer Explained in Below-:

The rate of interest per year can be calculated using the following formula:Rate of interest = (100 * Interest) / (Principal * Time)Substituting the given values, we get:Rate of interest = (100 * 1000) / (50000 * 2)Rate of interest = 1%Therefore, the rate of interest per year paid was 1%.So the answer is 1

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