Answer :
Interest = Amount – Principle
⇒ I = Rs. 22125 – Rs. 15000
⇒ I = Rs. 7125
P = Rs. 15000, r = ?, t = 5 yrs and I = Rs. 7125
As we know,
⇒ r = 9.5
Hence, rate of simple interest per annum is 9.5%.
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