a person invests rs 1000 in a savings account bank paying 6% interest. What is the balance or amount of savings account after 6months
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(i) . Principal (P) = Rs 1000
Rate of interest (R) = 6% p.a.
Time (T) = 1/2 years
Simple interest = \(\left ( \frac{P\times R\times T}{100} \right )\)
= \(\left ( \frac{1000\0.5 6\0.5}{100} \right )\)= 24000
Rate of interest (R) = 6% p.a.
Time (T) = 1/2 years
Simple interest = \(\left ( \frac{P\times R\times T}{100} \right )\)
= \(\left ( \frac{1000\0.5 6\0.5}{100} \right )\)= 24000
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