At what rate of simple interest will ₹2,000 become ₹2,520 in 4 years?
6.5%
Simple interest earned \(= 2520 - 2000 = 520\).
Using \(SI = \dfrac{P \times R \times T}{100}\):
\(520 = \dfrac{2000 \times R \times 4}{100} = 80R\).
\(R = \dfrac{520}{80} = 6.5\%\).
Hence the rate is 6.5%.
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