A woman put 35,800 into a savings account for one year. The rate of interest on the account was 61⁄2%. Calculate the amount of interest at the end of the year.
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Answer:
Answer with full explanation
Step-by-step explanation:
Given,
Principal P=2400Rs
Rate =5% per annum
N= time in year
Simple Interest SI=
100
PNR
According to the given condition,
240=
100
(2400×5×N)
⇒N=
2400×5
240×100
on Solving,
N=2 years
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