2000 for 4 years at 12./; per annum
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Step-by-step explanation:
If a sum of ₹2000 is lent out at 2% per annum for 10 years under simple interest, then the amount is
(a) ₹1400
(b) ₹2400
(c) ₹200
(d) ₹1500
ANSWER:
It is given that,
Sum (P) = ₹2000
Rate (R) = 2%
Time (T) = 10 years
I=P×R×T100 =2000×2×10100 =400
Amount = I + P = ₹400 + ₹2000 = ₹2400
Hence, the correct option is (b).
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