A man deposited ₹ 4,500 in a bank which paid him an interest of 11% per annum.How much simple interest will he get at the end of five years?
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Solution :-
Given :-
Principal = ₹ 4500
Time = 5 years
Rate = 11%
Interest =
= P × R × T/ 100
= 4500 × 11 × 5/ 100
= 45 × 11 × 5
= ₹ 2475
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