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Find the rate when principal = ₹ 8250, SI = ₹ 1100 and time = 2 years.

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Given: – P = ₹ 8250, SI = ₹ 1100, t = 2 years.

We know that,

R = (100 × SI) / (P × T)

= (100 × 1100)/ (8250 × 2)

= (50 × 1100) / (8250 × 1)

= (55000/ 8250)

= 6.67

= 6(2/3) %

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