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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